Discussion of July 16th House of Lords Report on QE

This our weekly discussion of the price level as it relates to Perry Mehrling's money view. The price level is the average price of goods in terms of money or, equivalently, the price of money in terms of goods. But what determines the price level? Why is the price level important? And how does it fit into the money view?

This week we're discussing recent (July 16th) report by the House of Lords Economic Affairs Committee entitled "Quantitative easing: a dangerous addiction?"

https://publications.parliament.uk/pa/ld5802/ldselect/ldeconaf/42/4203.htm

Since the 2008 crisis, quantitative easing (QE)—bond purchases by the central bank—has become normal and the scale of the activity has only increased. Why is this happening? Is it a bad thing? A good thing? What would have happened without the QE. Would we have been able to prevent deflation?

Our weekly standing Zoom meeting time is 12 pm Eastern Time (America/New York) every Thursday.

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