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The world is moving into phase 2 of the inflation debate but we are far from the disaster of the 1970s
A surge is not inevitable, but the risks are significant
If stimulus is well targeted, Boris Johnson’s government may achieve something of elegance
It is always easy for central banks to find reasons not to act
China looks set to pour billions in national savings down a black hole
In future it may have to be budget stimulus that rides to the rescue
Shareholders’ incentives can make them more long-termist than company managers
Charging 2 per cent to hold assets when returns are low is wrong, writes Sebastian Mallaby