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The Blurb On The Back:
In the wake of the 2008 financial crisis, central banks created trillions of dollars of new money, and poured it into financial markets. ‘Quantitative Easing’ (QE) was supposed to prevent deflation and restore economic growth.
But the money didn’t go to ordinary people: it went to the rich, who didn’t need it. It went to big corporations and banks - the same banks whose reckless lending caused the crash. This led to a decade of stagnation, not recovery. QE failed.
In this book, Frances Coppola makes the case for a ‘people’s QE’, in which the money goes directly to ordinary people and small businesses. She argues that it is the fairest and most effective way of restoring crisis-hit economies and helping to solve the long-term challenges of ageing populations, automation and climate change.
( The Review (Cut For Spoilers): )
The Verdict:
Frances Coppola is a financial writer and blogger whose book takes the reader through the post 2008 financial crash quantitative easing (QE) programme and why it failed. Using Milton Friedman’s ‘helicopter drop’ proposal, she then sets out the arguments for QE aimed directly at the population. While I’m not convinced by the mechanics and the benefits seem overstated, it sets out some interesting arguments that I’d like to read more about.
Thanks to the Amazon Vine Programme for the review copy of this book.
In the wake of the 2008 financial crisis, central banks created trillions of dollars of new money, and poured it into financial markets. ‘Quantitative Easing’ (QE) was supposed to prevent deflation and restore economic growth.
But the money didn’t go to ordinary people: it went to the rich, who didn’t need it. It went to big corporations and banks - the same banks whose reckless lending caused the crash. This led to a decade of stagnation, not recovery. QE failed.
In this book, Frances Coppola makes the case for a ‘people’s QE’, in which the money goes directly to ordinary people and small businesses. She argues that it is the fairest and most effective way of restoring crisis-hit economies and helping to solve the long-term challenges of ageing populations, automation and climate change.
( The Review (Cut For Spoilers): )
The Verdict:
Frances Coppola is a financial writer and blogger whose book takes the reader through the post 2008 financial crash quantitative easing (QE) programme and why it failed. Using Milton Friedman’s ‘helicopter drop’ proposal, she then sets out the arguments for QE aimed directly at the population. While I’m not convinced by the mechanics and the benefits seem overstated, it sets out some interesting arguments that I’d like to read more about.
Thanks to the Amazon Vine Programme for the review copy of this book.
