David Blanchflower is the Bruce V Rauner Professor of Economics at Dartmouth College, USA, and served on the Bank of England's Monetary Policy Committee until earlier this year.Crazy.
Here's my response to his article:
Jack Maturin on June 17, 2009 at 10:01 PMIf he ever gets to read this, I would love to be a fly on the wall to witness his reaction! :-)
David, as a follower of Austrian economics myself, I agree entirely with your analysis. What puzzles me though is why you deliberately made this worse, when you were taking the Queen's shilling at the Bank of England, by agreeing to lower interest rates to re-inflate the burst bubble, to make a future bubble even worse?
This worsening crisis is entirely down to central banks and their printing press mentality of using counterfeiting to solve every problem. Can you explain why that now you are no longer taking the shilling, that you have completely reversed your position?