Mark Thoma — 'Central Banks Have Made the Rich Richer'

Paul Marshall, chairman of London-based hedge fund Marshall Wace, in the FT:

"Central banks have made the rich richer: Labour’s new shadow chancellor has got at least one thing right. ... Quantitative easing ... has bailed out bonus-happy banks and made the rich richer. ...

"It is no surprise that the left is angry about this, nor that they are looking for other versions of QE that do not so directly benefit bankers and the rich.…"

Economist’s View
'Central Banks Have Made the Rich Richer'
Mark Thoma | Professor of Economics, University of Oregon