In his recent lecture at the Cass Business School, Lord Turner noted that even mentioning the possibility of overt monetary financing was akin to breaking a taboo.
Moreover, in the view of some people, to actually do such a thing would be “a mortal sin, a work of the devil, as much as a technical error”. Against this background, it would seem wholly appropriate that Lord Turner has chosen a meeting of the Institute for New Economic Thinking to give us his further reflections on this topic. In light of the ongoing crisis, members of this Institute should be among those most prepared to question the assumptions and policy prescriptions that we previously took for granted.
