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Can monetary policy turn Argentina into Japan?
Monetary policy is as much about politics as it is economics. It affects the ways in which wealth is created, allocated, and retained and it determines the balance of power between providers of capital and users of capital. In January one of my readers kindly passed on to me a link to an interesting report published two years ago by Bain and Company called “A World awash in Money: Capital trends through 2020”. According to the authors: Our analysis leads us to conclude that for the balance of the decade, markets will generally continue to grapple with an environment of capital superabundance. Even with moderating ... (full story)