In the wake of the 2008 financial crisis, central banks created
trillions of dollars of new money, and poured it into financial
markets. 'Quantitative Easing' (QE) was supposed to prevent
deflation and restore economic growth. But the money didn't go to
ordinary people: it went to the rich, who didn't need it. It went
to big corporations and banks - the same banks whose reckless
lending caused the crash. This led to a decade of stagnation, not
recovery. QE failed. In this book, Frances Coppola makes the case
for a 'people's QE', in which the money goes directly to ordinary
people and small businesses. She argues that it is the fairest and
most effective way of restoring crisis-hit economies and helping to
solve the long-term challenges of ageing populations, automation
and climate change.
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