Posts Tagged ‘Nominal GDP Level Targeting’

Central Bank Revolution I: Market Monetarism Misdiagnosis (M3)

To begin to understand how central banks intend to reignite economic growth we have to understand that central bankers believe that changes in the quantity of money affect the price level, and for a short time, the level of economic activity, ie output.

 

By examining a classic monetary equation which became the foundation of Milton Friedman’s monetarism and central bank monetary policy we can see why there is potential for much more money printing.

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The Central Bank Revolution I (Well ‘Nominally’ So)

 

 

“The Checklist Manifesto – How to get things right”, is a masterful book for its narrative and practical application. Written by Atul Gawande, an acclaimed surgeon based in the US, he takes us on a journey of how the simple checklist helps individuals deal with immensely complex situations, where risks can be calculated and often lives protected – skyscraper construction, medicine and investment banking.

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