The Joe Walker Podcast

The Rise And Fall Of Monetary Policy - Ian Macfarlane

Oct 4, 2020

01:42:12

Creator website

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Episode notes

Introduction

2min

The Importance of Ad Reads

3min

The Power of Slow Acting Forces

2min

The Importance of Inflation

2min

Milton Friedman's Famous Phrase: Inflation Is Always and Everywhere a Monetary Phenomenon

2min

The Importance of Monetary Policy in Inflation

3min

The History of Inflation

5min

The Relationship Between Wage Increases and Inflation

3min

The History of Inflation in the Second World War

2min

10.

The Influence of Globalization on Inflation

4min

11.

The Importance of Easy Monetary Policy

3min

12.

Central Banks Reluctant to Let Monetary Policy Go

2min

13.

The Bias Towards Action

2min

14.

The Jury's Out on Cutting Interest Rates

5min

15.

The Importance of Budget Deficits

3min

16.

Modern Monetary Theory

3min

17.

Modern Monetary Theory

2min

18.

Modern Monetary Theory: A Marketing Plot

2min

19.

The Importance of Keeping Spending

4min

20.

The Implications of the Central Bank Reserves

3min

21.

The Differences Between MMT and the Government's Approach to Finance

3min

22.

The Advantages and Disadvantages of a Funded Deficit

4min

23.

The History of Financial Disintermediation

4min

24.

The Importance of MMTs

2min

25.

The Rise and Fall of COVID

2min

26.

The Anti-Growth Economy

2min

27.

The Context of Secular Stagnation

4min

28.

The Evolution of Inequality

3min

29.

Indettered Demand: A New Perspective on the Economy

2min

30.

The Importance of Financial Liberalization in the Economy

4min

31.

The Disadvantages of Consumption

4min

32.

The Importance of Inequality in the Global Economy

2min

33.

The Future of Wealth Redistribution

3min

34.

The Optimist or Pessimist Economy?

3min

35.

The Importance of Non-Standarity in Economics

2min

36.

The Good Parts of the Economic Methodology

3min

Ian Macfarlane was Governor of the Reserve Bank of Australia from 1996 to 2006.

Show notes
Selected links

•Follow Ian: Website
•The Deficit Myth, by Stephanie Kelton
•Macroeconomics, by William Mitchell, L. Randall Ray and Martin Watts
•'Indebted Demand', paper by Atif Mian, Ludwig Straub and Amir Sufi

Topics discussed

•Monetary policy. 4:44
•Modern Monetary Theory. 42:07
•Secular Stagnation and Indebted Demand. 1:11:10

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