“By chance I came across two articles today that are wildly optimistic about global economic growth in the future. First, via Karl Smith, I see that Robin Hanson is talking up the possibility of a robot-induced “singularity” in the future that will radically increase global economic growth rates. Second, Ambrose Evans-Pritchard is highlighting an HSBC report that foresees a pronounced increased in the trend global economic growth by 2050.
These two pieces are both interesting, but ignore an important question: what type of monetary policy arrangement would be most conducive to maintaining economic stability during such rapid economic growth?” Read more.
Selgin’s ‘Less Than Zero’: Required Reading for Central Bankers
Seeking Alpha, January 6, 2011.
Image by scottchan / FreeDigitalPhotos.net.
Related Articles – Economic Growth, Monetary Policy, Sound Money Project