[Marxism] [SUSPICIOUS MESSAGE] Recessions, monetary easing and fiscal stimulus | Michael Roberts Blog
lnp3 at panix.com
Mon Aug 19 05:53:02 MDT 2019
Monetary policy has failed, whether conventional or unconventional.
Central banks have been ‘pushing on a string’. That was something that
Keynes found too during the Great Depression of the 1930s. His policy
proposal for getting full employment and ending the depression in the
early 1930s was first conventional interest-rate cuts and then
unconventional QE. By 1936, when he wrote his great work, The General
Theory, he announced the failure of monetary policy.
More information about the Marxism