by Summary:
In an environment of secular stagnation in the developed economies, central bankers’ ingenuity in loosening monetary policy is exactly what is not needed. What is needed are admissions of impotence, in order to spur efforts by governments to promote demand through fiscal policies and other means. Throwing in the towel (but not endorsing MMT). Politically, this is about control of the Democratic Party after the transition from Clinton-Obama-Third Way. Summers is on the side of the Establishment, while Stephanie Kelton is Bernie's advisor and in league with The Squad. Project SyndicateWhither Central Banking?Lawrence H. Summers & Anna Stansbury
Topics:
Mike Norman considers the following as important: fiscal policy, Larry Summers, Monetary Policy
This could be interesting, too:
In an environment of secular stagnation in the developed economies, central bankers’ ingenuity in loosening monetary policy is exactly what is not needed. What is needed are admissions of impotence, in order to spur efforts by governments to promote demand through fiscal policies and other means. Throwing in the towel (but not endorsing MMT). Politically, this is about control of the Democratic Party after the transition from Clinton-Obama-Third Way. Summers is on the side of the Establishment, while Stephanie Kelton is Bernie's advisor and in league with The Squad. Project SyndicateWhither Central Banking?Lawrence H. Summers & Anna Stansbury
Topics:
Mike Norman considers the following as important: fiscal policy, Larry Summers, Monetary Policy
This could be interesting, too:
Angry Bear writes Open Thread January 4 2024 overly “restrictive” monetary policy
Hasan Cömert & T. Sabri Öncü writes Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment – III
Hasan Cömert & T. Sabri Öncü writes Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment – III
Hasan Cömert & T. Sabri Öncü writes Monetary Policy Debates in the Age of Deglobalisation: the Turkish Experiment – III
In an environment of secular stagnation in the developed economies, central bankers’ ingenuity in loosening monetary policy is exactly what is not needed. What is needed are admissions of impotence, in order to spur efforts by governments to promote demand through fiscal policies and other means.Throwing in the towel (but not endorsing MMT). Politically, this is about control of the Democratic Party after the transition from Clinton-Obama-Third Way. Summers is on the side of the Establishment, while Stephanie Kelton is Bernie's advisor and in league with The Squad.