Until the recent crisis, economists were talking up the “great moderation”: economic fluctuations were supposedly becoming milder, and many concluded that economic stabilization policy had reached new heights of effectiveness.
Tot de laatste crisis hadden de economen hun mond vol van de ‘great moderation’; de economische fluctuaties zouden steeds minder scherp worden en velen dachten dat de economische politiek van stabilisatie nieuwe niveaus van effectiviteit bereikt had.