Matolcsy: Some politicians misunderstand their times

English2020. júl 24.GOVERNOR MATOLCSY

Some politicians really try to use the legacy of FDR’s New Deal as a compass for solving the crisis created by the pandemic /FT, 4 July 2020/.

The legacy of the New Deal, as a tool for economic stimulus, should indeed be heavily contested. And there is one more snag: we entered the wartime years of the 1940s, meaning that the 1930s had gone. The present downturn was not triggered by an overall economic and financial crisis. It might be the first crisis of the new cold war 2.0 between the U.S. and China.

Wartimes are really different.

Re “The lessons for today from FDR’s New Deal

Governor Matolcsy, MNB, the Central Bank of Hungary

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