How a radical interpretation of the Great Depression became the orthodoxy behind solving the COVID economic crisis
- Written by Mary O'Sullivan, Professor of Economic History and Director of the Department of History, Economics and Society, Université de Genève
It even inspired the global TV hit, La Casa de Papel NetflixAt the start of the COVID-19 pandemic in March 2020, US Federal Reserve System governor Jerome Powell made an extraordinary declaration: “We’re not going to run out of ammunition.” The central bank stood ready to take any action necessary to stem the mounting economic...