February 2012
10 posts
The old plan was this: Use interest rates to stabilize demand and ensure full employment.
And the old question was: What if 0 percent nominal interest rates are inadequate to produce full employment?
And we had two answers: Use quantitative easing and discretionary fiscal policy to stabilize demand and ensure full employment.
But we don’t have full employment, and the...
“What happened to radical Christianity, the un-nice brand of Christianity that...”
– Robert Capon (via azspot)
then it became The Institutional Religion of an Empire; now we’re stuck with this one
