Chris Giles, Economics Editor:
"Lord Turner, the departing chairman of the Financial Services Authority has defended financing government spending by printing money arguing that, within limits, it 'absolutely, definitively [does] not' lead to inflation. Speaking before a farewell speech in London on Wednesday, Lord Turner, who applied unsuccessfully to be the next Bank of England governor, called for 'intellectual clarity' in economic policy, including breaking a taboo that permanently printing money to pay for government services is always bad.Economonitor — Great Leap Forward
Lord Turner Lets the Cat Out of the Bag: Print money to fund spending
L. Randall Wray
2 comments:
If past outcomes are any evidence, this won't make a scratch, let alone a dent. Powerless commentary is simply swallowed by the institutional momentum of a Titannic bureaucracy.
After all, far more influential people have been saying a wider range of equally or more coherent things since long before even Ben Franklin.
It'll take an iceberg to really get the attention of the people steering the Titannic.
And even then ...
http://t.co/6pYFJi2g
http://i.imgur.com/0cO7Ey2.jpg
http://twitpic.com/b8r9qv
https://t.co/c84GKVRB
"But how cahn zie leetle bits of paper make a society richer?"
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