The Road to Full Investment
As capital becomes more abundant, the expected return on new investment, allowing for risk, falls to zero, which appears to be the case now. But this does not mean that all investment should come to an end: If the risk can be eliminated, the investment engine can be kept going, at least temporarily, by having the state step in.
https://prosyn.org/aySzfFv
LONDON – A specter is haunting the treasuries and central banks of the West – the specter of secular stagnation. What if there is no sustainable recovery from the economic slump of 2008-2013? What if the sources of economic growth have dried up – not temporarily, but permanently?