Contiene: Regime change : surging inflation and rising demands on governments have brought a pivotal moment for economic policy, says Henry Curr ; The ageing paradox : elderly populations mean more government spending, they also mean low interest rate ; Feedback loop : is the world economy in a debt trap? ; Greenbacks for greenery : the energy transition will be expensive, but not catastrophically so ; The total bill : adding up the fiscal drag from ageing, energy and defence ; Long road back : the inflation problem will get better before it gets worse ; The end of 2% : whether by choice or by accident, policymakers are likely to jettison their 2% inflation targets.