So, a round robin letter which he wasn’t asked to sign. Arguing that the BoE should really do something about this recession:
A fiscal stimulus financed by central bank money creation could be used to fund essential investment in infrastructure projects – boosting the incomes of businesses and households, and increasing the public sector’s productive assets in the process. Alternatively, the money could be used to fund either a tax cut or direct cash transfers to households, resulting in an immediate increase of household disposable incomes.
So, on offer is Ritchie’s PQE and Milton Friedman’s helicopter money.
I think we’ll go with St Milt, don’t you?
Not just because he’s not Ritchie. But because infrastructure in today’s UK has a what,m 5 year, 10 year lead time? And the construction industry is facing capacity constraints right now anyway.
We could also go with JM Keynes as an alternative. Cut national insurance…..
Better than Ritchie either way….
It’s also a bit of a cheat to describe David Graeber, Tim Jackson and Fran Boait as economists (Fran studied Natural Sciences at the University of Cambridge and went on to complete a PhD researching carbon dioxide storage.)