Stay updated with breaking news from Servaas Storm. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A new analysis finds our inflation comes first from Covid/sanctions supply shocks and second, spending by the rich, not government spending.
The Spanish-American philosopher George Santayana famously warned that "those who cannot remember the past are condemned to repeat it". But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is how the global policy response to the current bout of inflation is playing out, with governments and central banks across the developed world insisting that the only way to tame soaring prices is by raising interest rates and tightening monetary policy.
NEW DELHI — The Spanish-American philosopher George Santayana famously warned that “those who cannot remember the past are condemned to repeat it”. But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is how the global policy response to the current bout of inflation is playing out, with governments and central banks
The over-reliance on interest-rate increases will likely lead to economic disaster in low- and middle-income countries.
Why to be wary of Larry Summers selling another Volcker-type "kill the economy to save it" interest rate jihad.