Deus Ex Machina

Published on: January 28th, 2021

Persuading the fiscal authorities to pick up the baton has been a long haul but with monetary ammo low, it must now fill the gap. Covid has provided the crisis necessary to bite the bullet. But what about burgeoning deficits and debt to GDP? Doesn’t that preclude fiscal expansion? Julian discusses that, like a deus ex machina, academics have come up with a solution, rewriting the economic rules to order. The post-Covid fiscal orthodoxy has arrived: The Infinite Horizon.