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161031 Mike - What is Quantitative Easing anyway (and is it any good)

Page history last edited by Peter Verity 3 years, 8 months ago




Chairs Richard
Time  19:30-21:00 Secretaries  
Location  Quaker Meeting House  Type of meeting Talk


28 people present




What is Quantitative Easing anyway? Is it any good?

presenter: Mike Black


The Bank of England has spent an enormous amount of money – £375 billion – on Quantitative Easing (QE), and is going to add £70 billion more.

Positive Money is campaigning against this, and even the Prime Minister has complained about its “bad side effects” and said “A change has got to come”.

How is QE supposed to work, what’s wrong with it, and could it be replaced with something else?


Mike gave a well informed and clearly structured talk, covering

  • basics of the UK monetary system (including reserves) - what was it that needed 'easing'?
  • what was QE supposed to achieve? (5 different objectives)
  • why has QE been criticised? (rebuttals against all 5 objectives)
  • what could be done instead?
    1. 'strategic QE' (NEF)
    2. 'people's QE' (Murphy, Corbyn)
    3. helicopter drops (Friedman, Bernanke)
    4. 'Sovereign Money creation' (Positive Money)


The talk was followed by questions and answers, and discussion


Mike showed two videos during his presentation


You can download Mike's Powerpoint slides here > 161031 Mike - What is Quantitative Easing anyway.pptx



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