Comparing unemployment and inflation rates to Federal Reserve targets, Ed Dolan writes:
First, as market monetarists point out, the best guarantee of full employment and price stability over the long run is steady growth of nominal GDP in the range of 4 to 5 percent per year.
Comparing Irving Fisher's Debt-Deflation Theory of Great Depressions to Frank Herbert's Dune story, Geerussell writes:
Market monetarists would be the Guild Navigators, huffing spice and folding space to move from point A to point B avoiding everything in between.
That sums it up perfectly.
No comments:
Post a Comment