I haven't changed my position on this, and lockdowns can save the economy, which has been shown in China, but we screwed that one up, so we may need to reconsider further lockdowns if they can harm the economy. But I still blame the people who refused to wear masks, to do social distancing, and who are now refusing to have vaccines, making the pandemic much worse, and further harming our economy.
The markets guru who was credited with predicting the 2008 financial crash has warned that Britain faces rampant inflation if businesses keep getting hammered by lockdowns.
Raghuram Rajan, former governor of the Reserve Bank of India and onetime chief economist at the International Monetary Fund, said businesses could keep raising prices if they face heavy costs from repeated lockdowns, and find they can successfully pass on those costs to consumers.
2 comments:
What on Earth is he talking about? He provides no evidence that lockdowns are any more severe in the UK than elsewhere, plus I know of no such evidence.
He is also clueless on MMT. See:
http://www.bondeconomics.com/2020/12/rajan-accuses-mmt-of-making-errors-made.html
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