An article summary from the U.K.’s Telegraph appeared today that read (LINK):
Money printing has “limited influence” on growth and more radical measures are needed to stimulate the economy, the newest member of the Bank of England’s rate-setting committee has warned.
The title of the article, at least on the front page of the Financial section of the online paper, is similar: ”More targeted measures than QE needed to drive growth”.
I do not want to actually read the article, and besides, I have exhausted my 20 free “reads” per month.
These BofE worthies have read about laissez-faire. They think it’s quaint. They don’t think much of it, though, or so it would appear. They may not care about the thoughts of John Stuart Mill (who was not a pure libertarian by any means; LINK):
“If the roads, the railways, the banks, the insurance offices, the great joint‑stock companies, the universities, and the public charities, were all of them branches of the government; if, in addition, the municipal corporations and local boards, with all that now devolves on them, became departments of the central administration; if the employees of all these different enterprises were appointed and paid by the government, and looked to the government for every rise of life; not all the freedom of the press and popular constitution of the legislature would make this or any other country free otherwise than in name.”