What Passes for Reality Is Not Worth Respecting
In October of last year, the International Monetary Fund (IMF) released its flagship World Economic Outlook. In that report, the IMF said that the global growth rate would stumble at 3% in 2019. A month ago, the IMF’s main economists returned to this theme; ‘Global growth’, they wrote, ‘recorded its weakest pace since the global financial crisis a decade ago’.