VALUES empower our life

The government has to be careful in greed for free money

Budget constraints are lost

Budget constraints are lost.

 It presents both danger and opportunity

We said sometimes governments failed to rethink economic policy after the dust settled in the global financial crisis of 2007-09. No one would say the same thing about the Kovid-19 epidemic. It has led Scrambling desperately to enforce policies that were unimaginable or anti-religious a few months ago. It occurs once in a generation that has resulted in a profound change in the economy now taking place. 

The epidemic marked the beginning of a new era, as in the 1930s when Clubby Keynesianism led Milton Friedman's monetary policy, and in the 1990s when were given central banks their independence. Its neglect will exploit opportunities and combine dangerous risks arising from an extreme level of state intervention in the economy and financial markets.

This new era has four determining features. The first is the jaw-dropping scale of today's government adoption and the seemingly limitless possibilities for many more. The IMF predicts that rich countries will account for 17% of their combined GDP this year in spending and tax cuts designed to sustain the economy. In America, Congress is debating another spending package. The European Union has just agreed to a new stimulus-funded by the general ing, beyond a political rubric.