1 Comment
  1. Dave Holden. says

    I agree with almost all of this. The problem however is Economics *is* about morality, it is about fairness and unfairness, it is about winners and losers. Keens QE for the public is a nice idea, but when I here things like this I always wonder what am I not seeing.  Most economists don’t seem to have any sense of humility in this respect..

    One thing I don’t get about QE for the public is what does it do to price structure. The bubble in credit didn’t get evenly allocated across the economy, much of it went into housing and it’s associated economy. QE for the public, as I understand it, would be almost the negative of that, what does this do to prices.

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