Economics

It’s the Money Supply, Stupid!

Peter Smith Frequent contributor The minutes of the monetary policy meeting on October 3 of the Reserve Bank Board were issued last week. They cause a stir. The Board decided to leave the cash-rate target unchanged at 4.1 per cent. That didn’t cause the stir. Several observations and the concluding comment did. Here are some pertinent verbatimContinue reading “It’s the Money Supply, Stupid!”

Money Out the Door: Australia in the Shadow of Keynes Geoff Kingston Around the time of the Whitlam government (I can’t remember the exact year), I was part of a large audience for Harry G. Johnson at the National Press Club. Johnson was a distinguished economist and a big bear of a man. He projectedContinue reading “Economics”

Economics

The RBA is Broken and This Won’t Fix It Peter Smith Frequent contributor All of the goings-on with the Reserve Bank (RBA) yet not a mention that I could see in the press about the money supply. A new expert panel – the Monetary Policy Board (MPB) – will apparently govern monetary policy, having equalContinue reading “Economics”