The article discusses the Japanese economy from the burst of its asset bubble in the 1990s and its failure to recover as of 2014, comparing that situation to the global economy since 2008. The author argues that the global economy suffers from a deficiency of demand and that direct money transfers, as proposed by economist Ben Bernanke and others, or other alternative methods of increasing demand are necessary. Comments from economist Alan Greenspan are included.
|Publication status||Published - 2014|
Blyth, M., & Lonergan, E. (2014). Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People. Foreign Affairs, 93(5), 98-109. http://sfx-45cbs.hosted.exlibrisgroup.com/45cbs?url_ver=Z39.88-2004&url_ctx_fmt=info:ofi/fmt:kev:mtx:ctx&ctx_enc=info:ofi/enc:UTF-8&ctx_ver=Z39.88-2004&rfr_id=info:sid/sfxit.com:azlist&sfx.ignore_date_threshold=1&rft.object_id=954921343175&rft.object_portfolio_id=&svc.holdings=yes&svc.fulltext=yes