29min chapter

Bankless cover image

“Nothing Stops This Train” | Lyn Alden on Fiscal Dominance

Bankless

CHAPTER

Monetary vs. Fiscal Policy: Historical Perspectives and Contemporary Implications

This chapter analyzes the key distinctions between monetary and fiscal policy, supported by examples like quantitative easing and COVID-19 stimulus. It explores historical inflation dynamics, particularly the influence of bank lending and fiscal deficits across different eras, and how current policies interact with asset prices and consumer inflation. The discussion also emphasizes the challenges of fiscal dominance in a politically charged environment and its effects on economic power dynamics in the U.S.

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