Prof. Eric Maskin — Thanks to monetary policy, business cycles are far less vola

Thanks to monetary policy, business cycles are far less volatile today than they were in the 19th century, when we had huge swings. But if cryptocurrency takes over the way its proponents would like, we could return to the ups…

Dr. Vikas Shah MBE DL 20 March 2026 1 min read

Thanks to monetary policy, business cycles are far less volatile today than they were in the 19th century, when we had huge swings. But if cryptocurrency takes over the way its proponents would like, we could return to the ups and downs of the pre-monetary policy era.