Mark Blyth — The Last Days of Pushing on a String

Fiscal problems can only be solved with fiscal instruments — government budgets or the taxation and regulatory systems of individual states. You can try and solve them with monetary instruments, as the Fed and the ECB have valiantly tried to do, but you will fail.

Read it at The Harvard Business Review | HBR Blog Network
The Last Days of Pushing on a String
Mark Blyth | faculty fellow at Brown University's Watson Institute for International Studies, professor of international political economy in Brown's Political Science Department, and director of the University’s undergraduate programs in development studies and international relations

Keynesian wisdom at HBR.