Aidan Regan: The truth is that nobody knows what will or won’t work to end this inflation crisis

Governments and central banks are desperate for a silver-bullet solution to the current inflation crisis, but increasing interest rates is unlikely to make much difference – except to engineer yet another recession

For the most part, financial markets are moved by the beliefs of its participants – typically white male institutional investors who manage other people’s money

A defining feature of the global economy is complex interdependence. This means that the future is uncertain, indeterminate and highly unpredictable. Political economists like to put order on this complexity by building predictive models. But, more often than not, these models are based on totally unrealistic assumptions about human behaviour.

This is not just an observation about the epistemological limitations of what we can know about the socially constructed human world. It has huge implications ...