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I understand the impulse to avoid hyperbole, but characterizing 1914 to 1945 as "a series of major economic and political shocks" is a 'uge understatement.

"A retreat into populism and trade barriers will eventually reveal itself for what it really is – the road to slower growth, poverty and even greater inequality –"
So did bolchevism. It took 70 years to find out. And the result was Putinism.
OTOH, it was not bad that economics is the dismal science, given the way Carlysle thought...

I would argue the French elections in April are the next important global economic event. And no I do not think Marine Le Pen is somehow certain to win. In fact those outside of France who seem to automatically assume her victory remind me of those in English Canada who before every election in Quebec always assume the PQ will win.

In this new year I want to take issue with this article written in Policy Options magazine by a young Canadian Government Economist praising the "Bretton Woods" currency and capital control system despite the fact that Canada broke away from fixed exchange rates and capital controls before even the ink was dry on Bretton Woods something the Bank of Canada can describe in great detail but yet this economist seems to forget to mention. Perhaps some of the WCI authors can straighten him out.


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