Blog - Page 2 of 16 - Philosophy of Money

The most important social scientist since Keynes

5th July 2019

Three validity claims The German social scientist, Jürgen Habermas, has just turned ninety. It is an odd reflection on our times that he is not renowned. In an age of academic specialisation this may reflect o...

Dual interest rates always work

Eric Lonergan

5th June 2019

Helicopter Money, Monetary Policy, Money in Europe

6

The future of monetary policy - Dual interest rates The significance of dual interest rates remains under-appreciated. The European Central Bank, Bank of Japan, and the Bank of England’s facilities are by fa...

Presentation on dual interest rates

Eric Lonergan

16th May 2019

Definitions of Money, Helicopter Money, Monetary Policy, Money in Europe

PM Europe roundtable...

It’s time for the ECB to use its monetary power

Eric Lonergan

28th March 2019

Helicopter Money, Monetary Policy, Money in Europe

1

Eurozone growth has stalled and inflation is below the ECB’s definition of price stability. As the recent actions of ECB make clear, further monetary easing is necessary for the ECB to fulfil its mandate. Un...

A reply to Stephanie Kelton

Eric Lonergan

19th March 2019

Definitions of Money, Monetary Policy, Theory & Other Problems

21

The crux of the MMT debate This recent article by Stephanie Kelton is crystal clear and reveals the crux of the ‘MMT debate’. It’s all about central bank independence. Also listen to this INET interview wi...

Redesigning monetary policy

Eric Lonergan

6th March 2019

Helicopter Money, Monetary Policy, Money in Europe

1

We need a modern monetary policy (MMP). Policy needs redesigning for three fundamental reasons: Firstly, the mental models for thinking about how the macro-economy in the developed world works have been brok...

Stock prices & r*

Eric Lonergan

28th February 2019

Finance & Asset Pricing, Monetary Policy, Theory & Other Problems

2

Economists pay insufficient attention to asset prices. Ask most economists what the relevance of the bond equity correlation is for fiscal policy and they will be baffled. You’ll be lucky if they know what you’...

The ethics of a Brexit referendum

Eric Lonergan

25th January 2019

Articles, Economic History, Sample Of One

5

The debate over Brexit has been dominated by propaganda. To date, I have had sympathy with the one ethical argument, which has been made most effectively by Mehreen Khan, for leaving the EU. It is shared by man...

Draghi’s law of conditional safety

Eric Lonergan

24th January 2019

Finance & Asset Pricing, Money in Europe

1

Understanding the Eurozone The fundamental macroeconomic policy challenge faced by the Eurozone is how to have a risk free asset - which is essential to the functioning of a modern financial system - while sim...

The most important social scientist since Keynes

Dual interest rates always work

Presentation on dual interest rates

It’s time for the ECB to use its monetary power

A reply to Stephanie Kelton

Redesigning monetary policy

Stock prices & r*

The ethics of a Brexit referendum

Draghi’s law of conditional safety

More on post-interest rate monetary policy

Reviews of Eric’s book

CNBC: market sell-off is ‘noise’

Monetary policy & babysitting: why rates are so low, and ‘what’s next?’