The beauty (and curse!) of SN is the many good reads people recommended. Can't keep up

Coming from you, that means _something_ :)

south_korea_ln

"persistent reliance on sovereign intervention to mitigate macroeconomic and social-economic volatility might exacerbate moral hazard and lead to the misallocation of resources towards low-productivity projects and “zombie” companies that produce profits short of debt servicing costs."

econ

Central banks need escape route from cycle of boom and bust

Very good read, thanks for sharing.

This, in particular:

"persistent reliance on sovereign intervention to mitigate macroeconomic and social-economic volatility might exacerbate moral hazard and lead to the misallocation of resources towards low-productivity projects and “zombie” companies that produce profits short of debt servicing costs."
