Monetary Mystification
Posted: Fri Oct 05, 2012 9:23 am
For both Europe and America, the danger now is that politicians and markets believe that monetary policy can revive the economy. Unfortunately, its main impact at this point is to distract attention from measures that would truly stimulate growth, including an expansionary fiscal policy and financial-sector reforms that boost lending.
http://www.project-syndicate.org/commen ... --stiglitz
http://www.project-syndicate.org/commen ... --stiglitz