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Scoop.it!
With the spectre of deflation looming in the wake of Covid-19, radical new policies could revolutionise the world economy, says history professor Adam Tooze 
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Scoop.it!
It comes ahead of a decision on Ms Lagarde's nomination to become head of the European Central Bank.
Graham Watson's insight:
Is Christine Lagarde in line to be the next head of the European Central Bank. It seems so - although I'm not entirely sure what her banking credentials are. Of course, this will be conveniently glossed over...
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Adam Tooze looks at a recent history of monetary policy, within the context of the possibility of deflation in the wake of Covid-19, arguing that central banks are considering policy alternatives that were inconceivable only a few years ago, such as negative interest rates.
It's an interesting look at how the intellectual currents have changed, and how we've adapted to a world of monetary stimulus. There is, thankfully, no mention of Modern Monetary Theory (MMT) which for all the hype has never seemed that 'modern' to me.