Oligarchs and Money
Econonerds eagerly await each new edition of the International Monetary Fund's World Economic Outlook. Never mind the forecasts, what we're waiting for are the analytical chapters, which are always interesting and even provocative. This latest report is no exception. In particular, Chapter 3 - although billed as an analysis of trends in real (inflation-adjusted) interest rates - in effect makes a compelling case for raising inflation targets above 2 percent, the current norm in advanced countries.