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This book analyses the controversial and critical issue of 2% inflation targeting, currently practised by central banks in the US, Japan and Europe. Where did the 2% target inflation originate, and for what reason? Do these reasons stand up to scrutiny?
This book explores these key questions, contributing to the growing debate that the global 2% inflation standard prescribed by the central banks in the advanced economies globally is actually contributing to the economic malaise of these nations. It presents novel theoretical perspectives, intertwined with historical and market understanding, and features analysis that draws on monetary theory (including Austrian school), behavioural finance, and finance theory.
Alongside rigorous analysis of the past and present, the book also features forward looking chapters, exploring how the 2% global inflation standard could collapse and what would ideally follow its demise, including a new look at the role of gold.
Über den Autor / die Autorin
Brendan Brown
is a monetary economist and currently Head of Economic Research at Mitsubishi UFJ Financial Group (Europe). Dr. Brown is also a Senior Research Fellow of the Hudson Institute, Washington DC and an Associate Scholar at the Mises Institute (USA). His areas of expertise include monetarism in theory and practice, Austrian School monetary tradition, European monetary integration, Japanese monetary issues, the global flow of capital, and international financial history. Brendan has published many books on contemporary finance and financial historyHe received a PhD from the University of London, a MBA from the University of Chicago, a MSc from the London School of Economics, and an undergraduate degree from Cambridge University.
Zusammenfassung
Analyses 2% inflation targetingPresents new theoretical perspectivesDraws on monetary theory, behavioural finance, and finance theoryTakes a new look at the role of gold
Challenges existing understanding of post-crisis monetary management
Zusatztext
“Fortunately, Brown isn't content to just outline the problem. He provides a blueprint for a step-by-step return to relative normalcy. For him, the ideal is a gold standard. But failing that, he allows for several other options in which money would be relatively sound and reliable in contrast to today's increasingly outlandish monetary experiments. Brown is nothing if not pragmatic and deeply steeped in the real-world workings of financial markets. His book would be a very useful addition to the reading list of any reader interested into the specific details of monetary policy and the dangerous world the central bank has built.” (Ryan McMaken, Mises Institute, mises.org, October 27, 2021)
Bericht
"Fortunately, Brown isn't content to just outline the problem. He provides a blueprint for a step-by-step return to relative normalcy. For him, the ideal is a gold standard. But failing that, he allows for several other options in which money would be relatively sound and reliable in contrast to today's increasingly outlandish monetary experiments. Brown is nothing if not pragmatic and deeply steeped in the real-world workings of financial markets. His book would be a very useful addition to the reading list of any reader interested into the specific details of monetary policy and the dangerous world the central bank has built." (Ryan McMaken, Mises Institute, mises.org, October 27, 2021)
