Category: The Quantity Theory of Money

Why Quantitative Easing Hasn’t Worked

Another week, another downgrade in the Bank of England’s forecasts for the British economy. Last year, the Bank forecast that the UK economy would grow by 2% in 2012. This was subsequently revised downwards to 0.8%.  Last week, the Governor of the Bank of England, Sir Mervyn King, announced that the Bank’s forecast was now …

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