In recent years we’ve become more familiar with the use of quantitative easing by central banks in times of financial crisis. But where did this tool come from, now favoured by rich countries in their efforts to stabilise stricken economies? In the UK alone, the Bank of England has used this policy to inject billions into the economy – most recently £150 billion to deal with the impact of COVID-19.

The answer, says Mary O'Sullivan, lies in the big US crisis of the 1930s: the Great Depression. And the work of two economists, Milton Friedman and Anna Schwartz, who saw it as a failure of liquidity not the failure of the system. What started out as a radical interpretation in the 1960s had by the 21st century entered the minds of policymakers. And what was initially seen as an experimental move by the Bank of Japan to use a money injection in 2001, was by the 2008 financial crisis aggressive policy in other parts of the world.

Solar power is now the cheapest source of electricity and can be installed to float on lakes and reservoirs, boosting the efficiency of electricity generation. New research also suggests that with careful design, these farms can also generate a cooling effect, helping to offset climate change. And here’s an interesting idea about how the stunning diversity found in flowers pollinated by animals may have come about – looking at foxgloves in particular.

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