Traditional monetary policy prescribes injecting money into a system in crisis. But with interest rates near zero, US policy makers will need a new trick to stimulate the economy the next time it buckles. In this intriguing Bloomberg column, history professor Stephen Mihm argues that central bankers should bone up on a idea proposed more than 100 years ago: that what an ailing economy needs isn’t more money but faster money. Executives, entrepreneurs and citizens interested in a creative response to the next recession will find this a thought-provoking article.
About the Author
Stephen Mihm is an associate professor of history at the University of Georgia.
Instant access to over 20,000 book summaries
Discover your next favorite book with getAbstract.
See prices >>
Stay up-to-date with emerging trends in less time.
Learn more >>