Louis-Philippe Rochon takes a look at central bank challenges since the financial crisis of 2007 and again during the current Coronavirus pandemic today.

[…]

The political will to regulate financial institutions is either non-existent or ineffectual, allowing a ‘shadow banking system’ that remains stubbornly beyond democratic accountability and perpetuates the growing levels of global inequality. Gerald Epstein, Professor of Economics at the University of Massachusetts, argues that orthodox economics could not predict the 2008 financial crisis and is unable to provide a solution to the financial and political problems that it left in its wake. Instead, he says we need to look beyond mainstream economic theory for answers.   […]