Andy Haldane is worth following.

Economics Intelligence

Andrew Haldane is the Bank of England’s Executive Director for Financial Stability. I recently talked to him about the crisis of contemporary economics and the way forward.

You are vocal critic of mainstream macro economics. How does this square with the tradition of central banks who historically have been very conservative institutions.

I don’t know if what you say about conservatism in central banks is actually true. I can see why people say that central bankers want to have ideas tested in a laboratory before they bring them to the world. In recent history, many ideas first bubbled up in academia and then eventually migrated into the policy sphere. Monetarism is one example for this, and the whole notion of adhering to policy rules grew out of academic literature. But during my time here there have been a number of examples where the causality has been reversed. In the current…

View original post 1,621 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s