Haldane says ‘cocktail’ of psychology and sociology behind divergent growth

Andrew Haldane

The factors governing economic growth are complex and require us to turn beyond straightforward economic theory, Bank of England (BoE) chief economist Andrew Haldane argued yesterday.

In a speech at the University of East Anglia that ranged across centuries, countries, and subject boundaries, Haldane said a "cocktail" of economics, psychology, sociology and history helped explain why economic growth between and even within countries diverged.

Haldane pitted the forces of "secular stagnation", fa

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