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

andy-haldane
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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