Ostriches will not get us out of this hole!

30 years of experience with the current model of  monetary policy shows  that – after initial successes –  it has  disappointed the hopes and promises made when it was introduced.

Is there any evidence that we collectively – economists, central bankers,  governments – are learning how to manage it?

No. Results are poor.

Yet most economists despite pointing to the bad repeated policy errors continue to support the model! (See Prof Rogoff in the current issue of Foreign Affairs). This is irrational.

 It is time to learn from experience. Economists – stop burying your heads in the sand!

The age of the ostriches is past,

Time to look at the facts. There are superior options.

Explore them and seize the post-Pandemic chance now.