What lessons should we have learnt from the GFC?

In this interview with Simon Cowan, economics professor, John Taylor argues that countries should focus on cutting taxes and regulation if they want to boost growth. Taylor also suggests that central banks need to become better strategists and explain their decisions. It has been an interesting decade in monetary policy. Professor of economics John Taylor discusses the warning signs we ignored, and what can be done to avoid a crash in the future. In an attempt to stimulate economic growth the US has focussed on reducing tax rates and regulation. Taylor suggests other countries should follow suit. Taylor also warns of the potential dangers of economists becoming too partisan and insists we need to continue to have good economic discussions. Follow the CIS on Twitter @CISOZ or find us on Facebook 'The Centre for Independent Studies' for more updates. http://www.cis.org.au