Magazine
Latest Issue

Mark Carney’s big idea

And how to make it work

By James Zuccollo  

Mark Carney stressed the value of an open economy

In the words of Milton Friedman, the Nobel prize-winning economist, those who control the money supply within an economy must ensure two things: “a reasonably stable economy in the short run and a reasonably stable price level in the long run.” Since the financial crisis, the Bank of England has faced charges that it failed on both counts. Inflation has overshot the Bank’s 2 per cent target for 71 of the last 78 months. But these worries…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect