Diana Coyle is absolutely right in saying that optimism about the economy is important /FT, 25 February 2021/.
Patterns of the past are also vital to find the roads to the future. We live in the times of a new Renaissance meaning that all sorts of discoveries fundamentally reshape our mindset and environment. We also live during a new global “Thirty Years’ War”. Besides, we are witnessing some elements of the 1940s. In addition, we live in the turbulent decade of the 1970s.
All of these cycles mean warfare instead of welfare.
Indeed, the time has come for governments to launch massive investments in zero-carbon energy in order to win the climate-war. Governments should make huge investments in integrated health systems in order to win the war for a long and healthy life for all human beings. Governments must pave the way for a new “sharing-economy” by giving access to near-zero price resources of energy, information/education, money, health and home for all citizens.
All in all, this time the badly needed trigger for optimism can only come from governments’ right policies.
Governor Matolcsy, MNB, the Central Bank of Hungary
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