Wednesday, March 4, 2009

A monetary policy difficulty

Over at Scott Sumner's excellent blog, there is a lively debate on monetary policy going on. Monetary economics is not a field I am at all intellectually comfortable with. I did wonder, particularly after this post, whether one reason monetary policy is not being relied on more (apart from the fact that it generates deep and fundamental disagreements among economists) is simply that too many people in powerful or influential positions are, like me, just a bit too intellectually baffled by it.

Fiscal policy, on the other hand, seems much more straightforward.

Just a thought.

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