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WASHINGTON, DC: Endlich haben die Notenbanken weltweit auf die globale Finanzkrise reagiert, indem sie eine koordinierte Zinssenkung um einen halben Prozentpunkt organisiert haben. Der Schritt ist willkommen, doch erheblich mehr ist nötig – und zwar schnell. Jetzt umgesetzt, können deutliche Zinssenkungen noch immer erhebliche positive Auswirkungen haben. Zögert man sie hinaus, dürfte ihre Wirkung minimal bleiben.

Eine wie die andere haben die wichtigen Notenbanken weltweit nur langsam auf die sich vertiefende Krise reagiert. Dieses Versagen spiegelt die Dominanz der konventionellen Ökonomie wieder, die innerhalb der weltweiten Gemeinschaft der Notenbanken ein engstirniges Gruppendenken hervorgebracht hat. Infolgedessen haben die Notenbanken den aufkommenden Finanztsunami erst nicht kommen sehen, und selbst als er da war, fuhren sie fort, einen vergangenen Krieg gegen die Inflation weiterzukämpfen.

Die schlimmsten Missetäter waren die Europäische Zentralbank und die Bank von England. Dies überrascht nicht, da die europäischen Notenbanker in ihrem Denken besonders konventionell und am meisten von der Inflation besessen sind. Es erklärt auch, warum Kontinentaleuropa so lange eine so hohe Arbeitslosigkeit hatte.

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