The strange economic policy in the OECD
Over the past 10 years, OECD countries have preferred to: Curb wages, leading to excess savings since profits are needlessly high; Correct the excess savings and weak household demand with expansionary fiscal and monetary policies; And run the risks of these policies: the risk of social and political crisis; rising public debt and the risk of a public debt crisis should interest rates rise; due to the very low interest rates, weakening of banks, the risk of bubbles and zombie firms. Rather than having a restrictive wage policy offset by highly expansionary fiscal and monetary policies, would it not be better to have a neutral wage policy and less expansionary fiscal and monetary policies? But is it not too late to change the economic policy mix?