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mk · 3383 days ago · link · · parent · post: Larry Summers: Advanced economies are so sick we need a new way to think about them
One way of looking at this might be that monetary policy leaves a mark, one of which is probably the types of fiscal policy that are tolerated for some time after. Maybe another way to look at it it this: There's all kinds of complications to fixing a lack of liquidity with liquidity. Human beings adapt.