The Covid-19 epidemic closed the cycle of liberal policies that began at the end of the 1970s, which had been severely shaken by the 2008 crash. The time is no longer for free trade, entrepreneurial capitalism, the reduction of taxes and public expenditure, the independence of central banks, but protectionism, the renewal of State interventions, the soaring of deficits and public debts financed by the issuance of currency.
To discover
Michel Houellebecq: "A civilization which legalizes euthanasia loses all rights to respect"
Stephanie Kelton is asserting herself as the face of this new paradigm,
which postulates that the public deficit and debt can be increased indefinitely to obtain full employment, on the sole condition of avoiding a return of inflation.
Joe Biden made the United States the spearhead of this doctrine.
It intends to generate 6.5% growth and restore full employment from the end of 2021 through a fiscal stimulus plan of 14% of GDP, coupled with an investment program of $ 2,250 billion in infrastructure.
This article is for subscribers only.
You have 79% left to discover.
Subscribe: 1 € the first month
Can be canceled at any time
I ENJOY IT
Already subscribed?
Log in