Book notes: The Road to Recovery: How and Why Economic Policy Must Change
Andrew Smithers, The Road to Recovery: How and Why Economic Policy Must Change, John Wiley & Sons, 2013, 360 pages
The principal message of this book is that the weaknesses in the world economy are structural and not cyclical. This means the policies being pursued in what the author calls “the Keynesian trio” – Japan, the UK and the US – cannot succeed and are, in some respects, making things worse. High debt and asset prices make the world economy vulnerable to renewed recession or, at best
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