Stiglitz Trashes Inflation Targetting

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As a 65 year old win­ner of the Nobel Prize in Eco­nom­ics, Joseph Stiglitz is not some­one that main­stream econ­o­mists can dis­miss as either a crank or senile–the usu­al reac­tions to any­one who oppos­es con­ven­tion­al thought in eco­nom­ic the­o­ry or pol­i­cy.

So when he comes out and says that infla­tion tar­get­ting is fool­ish and dan­ger­ous, his views are worth tak­ing note of. Here is Stiglitz’s com­men­tary on infla­tion tar­get­ting, pub­lished ear­li­er this month.

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.