Posts Tagged ‘Monetary Policy’

Tory MPs have a nerve to attack the Bank of England

by Ann Pettifor.

When David Davies MP (not to be confused with cabinet member David Davis MP) tweeted “Mr Carney you are an unelected bank official. Theresa May has got every right to tell you how to do your job!” he was quite wrong. Bank of England officials are civil servants and are given a mandate by Britain’s elected government. […]

A slow-burning revolution is starting to overturn neo-classical economic orthodoxy

by Bryan Gould.

As the world struggles to deal with threatening outbreaks of violence – most dangerously, in the Middle East and the Ukraine – another less dramatic and slower-burning revolution is getting under way. This revolution does not threaten violence – but it does promise change, and almost certainly change for the better. The revolution that is […]

Fixing the economic transmission system: co-ordinating monetary and fiscal policy

by Ann Pettifor.

“The economic [monetary] transmission system works to create the finance, which is then spent [fiscal] in productive investment in infrastructure. This sound investment in turn generates economic activity, i.e.employment. Employment in turn generates wages, incomes and profits – and these in turn generate tax revenues with which to reduce the deficit and pay down the government’s debt.” Thanks […]

Mark Carney’s shock appointment means more of the same

by Ann Pettifor.

This week the chancellor confirmed that there will be no real change at the Bank of England. There will be no change to the Treasury and Bank of England’s obsession with inflation targeting and “price stability”. Above all, he confirmed that there will be no reining-in of the banks; that banks will not be re-structured – […]

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