Some wise words from Croatia

Here is a memorable quote from Darko Oračić – one of my readers in Croatia:

“I think nobody from central banks can be convinced about monetarism being right for obvious reasons: that woud be admitting their own guilt for macroeconomic instability. The official doctrine is that central banks are good guys: they stabilize the unstable market economy. That is both deceit and self-deception.”


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1 Comment

  1. It´s been a “long tradition”, particularly at the Fed (maybe because there´s more public records)


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