Category: The velocity of circulation

Nov 14

QE Revisited – Where Has All the Money Gone?

Many thanks to those who attended my presentation at the City Book Fair in London yesterday, and particularly to the questionner who subjected my critique of Quantitative Easing to vigorous challenge. I welcome this, as it is vitally important that policy is based on a sound factual foundation. To summarise the exchange: My case against Quantitative Easing, set out in detail …

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Sep 11

“Winding and unwinding extraordinary monetary policy”. A comment on the Scottish Economic Society’s annual lecture, September 11th 2012

Honestly, it wasn’t just the prospect of free wine and canapés that attracted me to the annual lecture of the Scottish Economic Society, hosted by RBS at the Royal Museum of Edinburgh tonight. I was genuinely interested in the subject, “Winding and Unwinding Extraordinary Monetary Policy”, particularly as it was given by a distinguished member …

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Permanent link to this article: http://www.goldenguinea.com/winding-and-unwinding-extraordinary-monetary-policy-a-comment-on-the-scottish-economic-societys-annual-lecture-septtember-11th-2012/

Aug 13

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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Permanent link to this article: http://www.goldenguinea.com/why-quantitative-easing-hasnt-worked/