Africa: Inequality, Stagnation and Instability - the New Normal for Finance Capitalism

24 January 2020
analysis

Geneva — The failure of large-scale bailout operations, historically low interest rates and rapid injection of liquidity to bring about a strong recovery from the 2008-2009 financial crisis and recession created a widespread concern that advanced economies suffered from a chronic demand gap and faced the spectre of stagnation.

The subsequent growth experience has reinforced these concerns. Since the crisis the US has sustained the longest economic expansion in history, but it is also one of the slowest in terms of income, investment and job creation, lagging other post-war recoveries despite exceptionally favourable monetary policy.

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