Stabilizing The Future — John Cochrane
The Rasheed Griffith Show
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Debates on Monetarism and Fiscal Theory
This chapter delves into the historical debates between monetarism and fiscal theory in the context of financial systems and government deficits. It explores the evolution of central bank operations from money supply targeting to interest rate targeting, citing examples like the Bank of England. The chapter also discusses the concept of pre-commitments for financial stability, the benefits of a common currency, and the philosophy of intergenerational ethics in economic decision-making.
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