Michael Roberts Blog | It seems that if world’s major economies sink into a slump or face unsustainable debts in the rest of this decade, there would be no ‘escape hatch’ from productivity growth or increased exports because innovation was being squeezed by high interest rates; and trade was being squeezed by US sanctions on Russia and China and by the rise in trade barriers. It all sounds like the 1930s not the roaring 20s.