It is quite amusing to read the latest issue of the IMF publication "Finance and Development", containing suggestions for central banks from several celebrity economists. Two of them are Indian: Gita Gopinath and Raghuram Rajan, current and past chief economists of the IMF.
All agree that the main and only problem now is inflation, a problem that they, the economists, helped create after the Atlantic financial crisis of 2008. So the answer, too, is to be found there only, in America, to be precise, the Great Satan of the 15-year-old global monetary turbulence.
In 1980, faced with the same problem,
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