If you’re worried about another global recession, you won’t find any reassurance from economist William White, chairman of the OECD’s Economic and Development Review Committee. In this powerful article, he asserts that central bankers’ attempts to keep the economy on course are actually steering it into dangerous waters. He contends that loose monetary approaches don’t necessarily boost spending and that policy makers rely on flawed assumptions rather than on any real understanding of how the economy works. getAbstract highly recommends this intriguing report to economists, policy makers, executives and investors.
In this summary, you will learn
- Why the global economy is at risk from accommodative monetary policies,
- Why policy makers can’t prevent another crisis with today’s measures and
- Why “complex adaptive systems” offer a better framework for understanding the economy.
About the Author
William White is the head of the OECD’s Economic Development and Review Committee.