Saturday, March 5, 2016

Peter Dorman — Against Independent Central Banks: The Short Version


Shorter version: central bank independence is a gift to bankers by politicians.

Central bank independence reinforces hard money.

Econospeak
Against Independent Central Banks: The Short Version
Peter Dorman | Professor of Political Economy, The Evergreen State College

3 comments:

John said...

They're not independent! Why is this so hard to believe? A government claims a CB is independent and it suddenly is?

Random said...

http://mainlymacro.blogspot.co.uk/2016/03/the-strong-case-against-independent.html

Neil Wilson said...

The main argument against monetary policy and magic central banks is straightforward. It requires the expansion of private debt. Which is both endogenous and unstable. The whole theory on which magic central banks is based expects debt to be exogenous and stable.