Should-Read: Secular stagnation as the result of a collapse in the financial sector’s risk-bearing capacity. Calls for a “somewhat comprehensive socialization of investment”, no? If the private sector cannot figure out a way to mobilize society’s collective risk-bearing capacity to bear the risks of enterprise, then the public sector is all we got, no? Ricardo … Continue reading Should-Read: Ricardo Caballero, Alp Simsek: Risk intolerance and the global economy: A new macroeconomic framework