A network of public banks including a central bank operated as a public utility could similarly fund a U.S. Green New Deal – without raising taxes, driving up the federal debt, or inflating prices.
Did the world let an economic crisis go to waste? We may soon find out the hard way.
Without significant adjustments, mainstream economics will remain two steps behind changing realities on the ground, and economists will be risking a further loss of credibility and influence.
We can and should ask our policymakers to rewrite the rules of our economy and rebuild a pharmaceutical industry that is designed to serve the needs of patients, not profits.
My conclusion: Incentives just don’t work.