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Bloomberg Live.com slash automation slash radio. Hello and welcome to another episode of the Odd Lots Podcast I'm Tracey Alaway. So Tracy Alaway. So Tracy, evolution of economic thought is a big topic for us especially this year a lot of

discussion and about monetary policy fiscal policy one of our recurring themes no doubt.

Yeah, I mean, it feels like a lot of these conversations had begun even before 2020,

but this year is kind of the one that makes everyone start taking them or at least talking about them seriously.

So things like modern monetary theory once considered very, very heterodox are now, I mean,

now you see certain U. certain US politicians talking about it, the idea of a greater role for fiscal policy alongside money policy.

There are a lot of standard thoughts that are being overturned or at the beginning of being overturned maybe

Right some some stage of evolution we haven't really I mean we've done a little bit but we haven't really, I mean we've done a little bit, but we haven't really taken this sort of theme of evolution, however, within the context of say emerging markets or we haven't really done as much on it. We've done a little actually but not that much yet.

Yeah, so emerging markets this year were pretty interesting clearly under a lot of stress because these are the countries that are dealing with a huge

caseload of the virus, the coronavirus, and also dealing with the economic fallout of everything that's going on in the rest of the world.

So it feels like they're sort of getting this double whammy of maybe not having as great health

systems as a lot of the developed world, but still having to deal with the economic impacts.

So, you know, back in March, remember like EM looked like it was very much in trouble.

Yeah, you know, I really do think, and it's not exactly what we're going to be talking about today,

but I do think one of the themes from 2020 that's going to be interesting in retrospect

and with pretty important implications is whether various

EMs have more policy flexibility than previously appreciated, whether it's their ability

to do quantitative easing, whether it's their ability to run fiscal deficits.

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