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About: robert

Robert Pringle is founder and chairman of Central Banking Publications, a financial publisher specialising in public policy and financial markets. Central Banking journal, which he has edited for 20 years, has subscribers in 120 countries including the great majority of the world’s central banks.

Recent Posts by robert

What Brexit and Trump’s victory have in common

Many facile comparisons have been made between Brexit and the election of Donald Trump today. They have an important element in common. But the commentators have missed it. It is said that both represent a backlash against globalisation. Others say it is a revolt of the uneducated, the marginalised, the people who have been left…
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Brexit: Britain’s biggest mistake for 1,000 years

Matthew Parris (The Times, Oct 15) says Brexit is set to be Britain’s biggest screw-up since the Suez crisis of 1956. It is worse than that. The invasion of Egypt to regain Western control of the Suez Canal was an ill-judged gesture,  from which Britain recovered quickly; Brexit is likely to prove its greatest mistake…
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The real reasons for low real rates

The lowest interest rates in history are failing to spur sustained recovery. Rather, low real rates mirror financial and structural weaknesses Economists cannot agree on the causes of these low real rates. They discuss various hypotheses. Central banks have held policy rates low for years – have these ultra low nominal rates reduced real rates,…
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Are the chances of real reform improving?

  In The Money Trap, I argue that our problems result from the way in which we have applied a particular concept of money – the state theory of money. This dominated government policy in the 20th century. As Keynes said, all modern money is state money – it is seen as a creature of…
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Mad money: parallels with the 1970s

The current debate about monetary policies reminds me of the 1970s. Keynesian policies as then understood involved adjusting the fiscal “stance” of policy to ensure sufficient, but not excessive, effective demand. But these policies no longer had “traction”. The world was changing in ways that economists at the time struggled to understand.  Money was becoming…
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