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‘Money printing’ is not yet a subordination of monetary policy, so keep your hair on

Summary:
I wrote a thread a few days ago reacting to some of the Twitter commentary [and also to Martin Wolf’s FT piece which I don’t think struck the right tone], and this short post for The Independent covers the ground.   This should also be a counterpoint to Paul Mason’s recent New Statesman piece.  And it’s also worth reflecting back on the debates that were had as Corbyn was campaigning for the Labour leadership in 2015 and floating the idea of ‘People’s QE’.

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I wrote a thread a few days ago reacting to some of the Twitter commentary [and also to Martin Wolf’s FT piece which I don’t think struck the right tone], and this short post for The Independent covers the ground.   This should also be a counterpoint to Paul Mason’s recent New Statesman piece.  And it’s also worth reflecting back on the debates that were had as Corbyn was campaigning for the Labour leadership in 2015 and floating the idea of ‘People’s QE’.

Tony Yates
Economist. Consulting, lecturing, a book. Ex Prof at Bham, Ex BoE staffer. Macro, policy, monetary econ, occasional nonsense.

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