Mark Blyth
speaker
294 appearances
3 recordings
3 series
first heard Aug 2024
last heard 3 Jul
Mark Blyth’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
You don't want to think this is an inflation.
This is just a temporary bump in the road.
But if you keep hitting a road where there's nothing but bumps and your only tool is interest rates, it's not clear that raising interest rates has got anything to do with Europe using access to, for example, Russian gas.
Then what you should do is basically go back to the governments and say, look, I know that we told you guys for the past 30 years that you can't do anything, shouldn't do anything, and you're bad at things.
And we should leave all of the central bank.
But we're now in a world where that doesn't work anymore.
So if you want to help that bottom 20% and that mom that's working two jobs in this inflationary crisis, you need to start designing policies like subsidizing their transport costs, doing something about different tariffs so that people with more money pay a higher tariff for their electricity.
You could do things like subsidising food consumption.
You could expand welfare programmes at the bottom for the most vulnerable.
But you've got to do it on the fiscal side.
It can't come out of the central bank.
We've got two tools and they're both useless.
Exactly, but not just that.
We set the whole thing up 30 years ago.
The only thing that matters is monetary policy.
Let the wizards in the castle set the interest rate.
The economy will follow and we'll live in nirvana.
Well, we managed to confuse that with what was actually happening, which was an unusual period of deflation in the global economy where prices kept falling and we felt richer because of it.
We're now no longer in that world, but we're stuck with the same architecture.
No, I'm simply saying that it's not the tool for the moment.
Showing 101–120 of 294 · page 6 of 15
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