188. Should Central Banks do all the work, or none of it? (preview)
02/17/20 • 8 min
Central banks started life as clearing houses and have evolved into instruments to, supposedly, protect the economy. But with interest rates at all time lows, often in the negative, have they gone as far as they can go? And how can they control the economy when governments can implement a fiscal approach at odds with monetary policy. Is it time to consider that Central Banks have a fuller role in the management of the economy, leaving governments to consider ow best to spend the money allocated to them? Or is that a breach of democracy? Phil Dobbie discusses the idea with Prof Steve Keen.
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a supporter at https://www.patreon.com/ProfSteveKeen
Central banks started life as clearing houses and have evolved into instruments to, supposedly, protect the economy. But with interest rates at all time lows, often in the negative, have they gone as far as they can go? And how can they control the economy when governments can implement a fiscal approach at odds with monetary policy. Is it time to consider that Central Banks have a fuller role in the management of the economy, leaving governments to consider ow best to spend the money allocated to them? Or is that a breach of democracy? Phil Dobbie discusses the idea with Prof Steve Keen.
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a supporter at https://www.patreon.com/ProfSteveKeen
Previous Episode
Should Central Banks do all the work, or none of it?
Central banks started life as clearing houses and have evolved into instruments to, supposedly, protect the economy. But with interest rates at all time lows, often in the negative, have they gone as far as they can go? And how can they control the economy when governments can implement a fiscal approach at odds with monetary policy. Is it time to consider that Central Banks have a fuller role in the management of the economy, leaving governments to consider ow best to spend the money allocated to them? Or is that a breach of democracy? Phil Dobbie discusses the idea with Prof Steve Keen.
Hosted on Acast. See acast.com/privacy for more information.
Next Episode
The multiplier effect and who stops it working
The multiplier is a basic concept of economics. If you come across some money and spend it, the person you spend it with then spends a proportion of it again, the recipient of which also spends some of it. In this week’s podcast Phil Dobbie talks to Prof Steve Keen about how savings and taxation influence the multiplier, including how different sectors influence the speed of the multiplier. Plus, the commonly held assumption that if money starts circulating too quickly then it’ll assume less value. And what about those who want to accumulate wealth – do they stop the multiplier working?
Hosted on Acast. See acast.com/privacy for more information.
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