A recent paper from MLI Munk Senior Fellow Philip Cross on the unintended consequences of perpetual stimulus measures is featured prominently in a new CBC story.
Cross’ paper argues that the deficit spending and ultra-low interest rates governments intend to stimulate the economy are having the opposite effect. What’s more, they’re also taking away the tools needed to avert the next big financial crash.
“We’re using antibiotics for the common cold”, Cross tells CBC.
