Finishing the Post-Crisis Job
Many economists argue that we are still living with the consequences of the global financial crisis, and with the forces that caused it. This is partly true: there is still a need for more investment, productivity, and wage growth; but the global imbalances that gave rise to the last crash have been largely resolved.
LONDON – August 9, 2017, is the tenth anniversary of the decision by the French bank BNP Paribas to freeze some $2.2 billion worth of money-market funds. Those of us who were active in financial markets at the time remember that event as the beginning of the worst global financial crisis since the Great Depression.
LONDON – August 9, 2017, is the tenth anniversary of the decision by the French bank BNP Paribas to freeze some $2.2 billion worth of money-market funds. Those of us who were active in financial markets at the time remember that event as the beginning of the worst global financial crisis since the Great Depression.