Tag Archives: monetary policy
We remain stuck in a bad money trap: why?
The media support soft money Ten years after publication of my book, and on both sides of the Atlantic, national economies are still in the grip of the bad money trap. How depressing. How debilitating. Asset prices are sky high. Wages are sinking in real terms. All because of bad money policies that I analysed…
» Continue Reading
Money, civilisation and their discontents
The usual way to destroy the social value of money is through inflation, and that has indeed been the fate of most fiat currencies. Yet there are other ways to reduce the quality of money and thus its ability to support a civilisation. Money becomes less useful, for example, when the objects you can spend…
» Continue Reading
Regulation at a dead end
Last week Charles Goodhart uttered what I called his cry of despair (See RP’s Diary 13/01/13); now it is BOE’s Andy Haldane’s turn. Goodhart has realised that we are running out of monetary policy models – rules or frameworks like inflation targeting (IT) by which central banks steer interest rate policies. He warns of…
» Continue Reading