November 20, 2020

230. Taming Asset Prices (preview)

The world economy has undergone massive transformation with COVID-19. There will be an even bigger upheaval as climate change takes hold. How do we prepare for the economic changes it will bring about. The way of coping with the virus emergency has been unprecedented levels of government intervention. Does that mean the only way to transition to a greener economy is through public funding, or can the private sector carry the can? And who manages the transition? Eric Rosengren from  the Boston Fed admitted to the FT earlier this year that they don’t have the tools to “stop firms and households” from taking on “excessive leverage”, yet it’s the Fed policy that has created the problem. Phil Dobbie asks Steve Keen whether rising asset prices are a bad thing or not, and if its seen as a problem, what can be done about it?

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