For subscribers
‘Capitalism didn’t fail, it was ruined by easy money,’ says best-selling author
In his fifth and latest book, Ruchir Sharma puts the blame squarely on over-expansive governments and central banks.
Sign up now: Get ST's newsletters delivered to your inbox
Demonstrators protesting in New York in 2011 over issues such as the 2008 bank bailouts – estimated to have cost taxpayers about US$700 billion.
PHOTO: REUTERS
Follow topic:
After the 2008 global financial crisis, the US Federal Reserve slashed interest rates to near zero and kept them there for seven years after the crisis had passed.
In 2023, US companies were still binging on Covid-19 relief, even though the pandemic was long over.
