Yuval Noah Harari on big data, Google and the end of free will
link
summary
The Financial Times article discusses the implications of negative interest rates implemented by central banks as an unconventional monetary policy tool. It explains that negative interest rates essentially mean that banks have to pay to hold excess reserves, which is intended to incentivize lending and stimulate economic growth. However, the article raises concerns about the efficacy and unintended consequences of negative interest rates. It highlights issues such as the impact on banks and savers, the potential for distortions in the financial markets, and the limited effectiveness in boosting inflation and economic activity. The article concludes by suggesting that while negative interest rates may have been a necessary response during times of crisis, they should not become a permanent fixture in monetary policy.