Description: “It is inconceivable that policymakers today, aided by their theoretical understanding of the mechanisms and by the statistical information at their disposal, would begin to make the serious errors committed by the governments in 1929-32.” J. Tobin
“It is inconceivable that policymakers today, aided by their theoretical understanding of the mechanisms and by the statistical information at their disposal, would begin to make the serious errors committed by the governments in 1929-32.” J. Tobin
A little bit of history on the last occasion that the UK faced a challenge similar to today–the IMF’s Stand-By Arrangement document from 1976.
It’s interesting to note the similarities between then and now.