A new book titled “Money- A Zero Sum Game” written by KV Subramanian, India’s former chief economic adviser and KV Vaidyanathan another brilliant young economist has hit the stands and is set to challenge many erroneous theories in monetary economy.
A new book titled “Money – A Zero Sum Game” written by KV Subramanian, former Chief Economic Advisor of India and KV Vaidyanathan another brilliant young economist has come out and is about to challenge many erroneous theories in monetary economics .
In an interview with CNBC-TV18, KV Subramanian said: “Since the financial crisis, we have observed that central banks around the world are using many unconventional techniques to try to stimulate the economy, increase bank lending and to increase growth. So what we’ve observed is that many of these so-called bazookas that central banks around the world have pulled out have actually turned out to be wet firecrackers. So when we started thinking about why many of these measures didn’t stimulate the economy, we discovered that the monetary theory that guides monetary policy itself is flawed. And that’s why we wrote this book to point out the flaws in monetary theory and then to provide a new framework that’s practical enough to work with.
Watch the video for the whole conversation.
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