Bagehot on Monetary Policy

“To lend a great deal, and yet not give the public confidence that you will lend sufficiently and effectually, is the worst of all policies; but it is the policy now pursued.”

— Walter Bagehot, Lombard Street

4 responses to “Bagehot on Monetary Policy

  1. Lovely! Who did you have in mind: Fed; ECB; or both?

  2. Pingback: It´s all terribly depressing | Historinhas

  3. It’s impossible to understand inflation without having a better understanding of economic growth. Alex Gheg has a new consumer theory that gives us a scale for growth that measures previously hidden thoughts. We can measure utility growth using the body clock. Quantity, quality, variety and convenience in one equation.

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