In 2009 a small group of analysts dared to question whether emergency stimulus measures were the beginning of the “Japanisation” of Europe and the US. Ultra-low interest rates, large budget deficits and then quantitative easing were all meant to be temporary. Seven years later, only the most optimistic could see these measures being put away soon.



Patrick Poke

Great article Jonathan. It's amazing that mainstream economics still doesn't consider debt... Personally, I'm of the view that a universal basic income could offer answers to some of these issues - I would argue that it could be funded by asset and estate taxes, but others might prefer the 'helicopter money' approach...