Professor Richard A. Werner is a professor of economics at the University of Southampton. His letter to the FT explains that he coined the term “quantitative easing” and its true meaning: four ways of creating credit:
- increasing BANK credit
- increasing TRADE credit
- increasing CENTRAL BANK credit
- increasing credit created by the GOVERNMENT.
We’ve been advocating the last as “public credit for public purposes” through “Early Day Motions” since 2002.
Green Credit for Green Purposes was a submission to the Treasury Select Committee in response to the Stern enquiry.