Do higher interest rates lead to lower growth?
In Japan, interest rates have been falling for more than two decades without a significant impact on economic growth
Economists rarely agree on anything. Ask 10 economists to explain why the Indian economy is functioning the way it is, and you will hear varied explanations ranging from tight monetary conditions and banking crisis to ineffective fiscal policy and global economic conditions. Economics has a long list of “major" schools of thought: classical, neoclassical, Keynesian, Neo-Keynesian, monetarist, new classical, Marxist, Austrian, behavioural and many others. Many of these schools disagree with each other, even on basic assumptions like “human decision making is rational" or “utility can be measured".