Munich Personal RePEc Archive

The New Arthurian Economics

Shipman, Arthur F. (2009): The New Arthurian Economics.

[img]
Preview
PDF
MPRA_paper_12816.pdf

Download (185kB) | Preview

Abstract

The popular understanding of monetary policy is reviewed. A flaw is uncovered: Changes in the components of "money" have been ignored. Policy has therefore allowed the development of a monetary imbalance. This imbalance may be described as the excessive reliance on credit. The flaw has reduced the effectiveness of monetary policy. It is responsible for our failure to bring inflation to a halt. It is responsible for massive debt accumulation. It is responsible for our economic problems today. A solution is proposed.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.