Many argue that the crisis was similar to the attacks of September 11: a singular, unprecedented event, catastrophic and next to impossible to forecast. It was a black swan.
The question I want to ask, given these extraordinary historical changes, is whether we have now reached the ”end of history” in the sense that Francis Fukijama had in mind when he talked about political systems, which had evolved so that one successful system dominates and displaces others. Has this happened with monetary policy?