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Ending the Doomsday Cycle of global finance

March 4, 2010
‘Each time the system runs into problems, the Federal Reserve quickly lowers interest rates to revive it. These crises appear to be getting worse and worse.’ So begins a sobering analysis by Peter Boone and Simon Johnson in the CentrePiece, the journal of the LSE’s Centre for Economic Performance. The argument is contained in the two graphics. First the  historical
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