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Politics : View from the Center and Left

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To: neolib who wrote (51665)	3/4/2008 7:08:51 PM
From: TimF	Read Replies (1) of 543192

So they almost all agree on monetary policy? As I said "What policy should the US have on X, Y an X", is far removed from "the basics". That would include monetary policy. But even here there is some agreement on some basic principles (at least enough to have "a consensus" without unanimity). Everyone agrees that if your print money as fast and hard as you can you will increase inflation. Just about everyone agrees that if you can control the growth of money supply so that it isn't out of line with the increase in actual production you won't have serious issues with inflation. The disagreement is 1 - The best technique to use to properly control the monetary supply (although at least a majority, and arguably even close to a consensus would support some form of independent central bank (the "gold bugs" exist but they are clearly a minority), and 2 - How tight or loose money should be at any specific place and time.

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