What’s so great about growth-inducing ‘quantitative easing’?
As described by Prof. David Korten ‘unbridled growth in an economy is analogous to cancer’.
In ‘Life After Capitalism’ he says: ‘Think of capitalism as a defective genetic coding in our economic system that causes individual enterprises to seek their own unlimited growth without regard to the consequences for society.’
Applying that analysis to the advocacy of ‘quantitative easing’ would suggest that the so-called ‘solution’ will create more problems than it will solve.
Wouldn’t ‘qualitative easing’ be superior?
David J. Weston, Stranraer, Scotland
David runs an excellent list service. His comment reminds me about my frustration with the obfuscation of the term.
But note that the Bank of England buys Government bonds with ‘quantitative easing’. Why on earth doesn’t the Government ‘print money’ and SPEND it to reduce unemployment?
The Bank of England can only play ‘money games’. It cannot put money to constructive use.