Quote of the Day

“Those of us in the blogosphere know about the possibility of unconventional measures like QE and/or higher inflation targets. And I think it is fair to say that this knowledge is pretty widespread; Krugman, DeLong, Yglesias, Tim Duy, Andy Harless, Ambrosini, James Hamilton, Ryan Avent, Nick Rowe, Bill Woolsey, David Beckworth, Josh Hendrickson, and many other bloggers have discussed these options. They certainly aren’t some sort of secret, or some oddball strategy that is only discussed at this blog. But almost no mainstream journalist or mainstream politician, of any ideology, seems to even know that additional monetary stimulus is an option.”

Scott Sumner

One response to “Quote of the Day

  1. Macrocompassion

    Sorry but it won’t help and as an option it only gives the politicians something to play with!

    What will help is to tax land values instead of production. It should be an option too and it has helped Harrisburg and other towns reduce their rates of unemployment and petty crime.

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