A licence to print money?
The man who invented the term QE says it won’t work for Europe – at least, not the way the ECB wants to do it
If quantitative easing – which is ending in the US and about to begin in the eurozone – seems like an odd, clunky phrase, that’s because it is. It was coined in the mid-1990s by German economist Richard Werner, and is a literal translation of the Japanese for quantitative monetary easing – ryoteki kinyu kanwa.
Werner was working as an economist in Japan through the 1990s, a period of protracted recession for what ...
