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Wouldn't you say, however, that this is the sort of thing the neoliberals opposed precisely because of their overweaning fears of inflation?
by Upstate NY on Tue Feb 14th, 2012 at 05:57:02 PM EST
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It's the sort of thing the neolibs should oppose if they believe their own theology.

Whether they actually oppose it or not is an excellent benchmark for whether they are deluded or deceptive. From casual perusal of the reactions, they seem roughly equally split between the two.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Feb 14th, 2012 at 06:00:00 PM EST
[ Parent ]
Spiegel: Deutschlands heuchlerische Monetaristen.

Essentially, monetarists should not oppose the LTRO. Only Austrians should. There are a lot of "neoliberals" who are closet Austrians and who only appear to be Monetarist because, during the 1970s stagflation, both Austrians and Monetarists agreed on policy.

In the current crisis, by and large Keynesians and Monetarists should agree on policy against Austrians.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Tue Feb 14th, 2012 at 06:13:07 PM EST
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