Archive for July, 2010

Inflation Control

Monday, July 19th, 2010

With a jingle financial policy agenda, inflation would be stabilised, inflation crises like this would not occasionally seize the government, and distortionary short-sighted initiatives such as prohibition of exports of certain goods would not arise. When inflation spikes, the single focus of the government becomes controlling inflation. This is not how mature market economies work. In all mature market economies, the task of controlling inflation – and only the task of controlling inflation – is placed with the central bank. In mature market economies, inflation crises do not arise, because the full power of financial policy is committed to this one task.
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