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Catch up: Prof. Evans in City AM
We're catching up on two weeks of City AM columns by London's associate professor of economics, Anthony J. Evans.
In last week's piece, titled 'The line's fine between credit booms and busts', he said:
"The Bank of England's current monetary policy rule is inflation targeting – they use the tool of interest rates (and more recently quantitative easing) to target a particular level of consumer price inflation (2 per cent). This is common practice among contemporary central banks, but the continued lack of recovery has meant that people are questioning its validity.
Rather than target inflation, some economists argue that the central bank should target nominal GDP (NGDP), which is the price level multiplied by real output..."
To read more, click here.
On Tuesday, he focused on 'Liquidating false ideas of Austrian economics'.
"In a recent article in the Daily Telegraph, Ambrose Evans-Pritchard argued that "policy defeatism is in the air, and Austro-liquidationists are winning the popular debate". "Austro-liquidationists" is a neat slur, managing to damn Austrian economics as both terrifyingly extreme and stupefyingly technical at the same time. But Evans-Pritchard misrepresents the Austrian school, while also overestimating its influence..."
To read more, click here.
You can read all of Anthony's columns by visiting City AM or via our newsroom.
