In an era of zero interest rates and quantitative easing, macroeconomic policy has become unhinged from a tough post-crisis reality. Untested medicine is being used to treat the wrong ailment – and the chronically ill patient continues to be neglected.
近几年来，全球经济在一个又一个危机中挣扎，药方本身也成了病源的一部分。在零利率和量化宽松的时代，危机后的现实令宏观经济政策精神错乱。未受检验的药方被用于在了错误的小病上，而病人的心腹大患却一直被忽视了。