EPISODE · May 28, 2024 · 19 MIN
Why Central Bankers are FORCED to Lie
from Eurodollar University · host Jeff Snider
What's misinformation about the economy? It's a well-known fact policymakers and Economists outright lie about any situation. But why? They say it's for your own good. The lies are beginning to pile up so much that officials now have to lie about their lies, including the very theory behind all of this especially when some of the theoreticians who came up with it no longer want to be the very purveyors of misinformation. Eurodollar University's Money & Macro AnalysisGeorge DeMartino Should Economists Deceive? Prosocial Lying, Paternalism, and the ‘Ben Bernanke Problem’https://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1256&context=peri_workingpapersDeLong & Summers How Does Macroeconomic Policy Affect Output?https://www.brookings.edu/wp-content/uploads/1988/06/1988b_bpea_delong_summers_mankiw_romer.pdfBrad DeLong Greater Depressionhttps://www.project-syndicate.org/commentary/j--bradford-delong-argues-that-it-is-time-to-call-what-is-happening-in-europe-and-the-us-by-its-true-nameBank of England Ben Bernanke to lead review into forecasting at Bank of Englandhttps://www.bankofengland.co.uk/news/2023/july/ben-bernanke-to-lead-review-into-forecasting-at-bank-of-englandBank of England Forecasting for monetary policy making and communication at the Bank of England: a reviewhttps://www.bankofengland.co.uk/independent-evaluation-office/forecasting-for-monetary-policy-making-and-communication-at-the-bank-of-england-a-review/forecasting-for-monetary-policy-making-and-communication-at-the-bank-of-england-a-reviewMervyn King Per Jacobsson Lecture: The World Turned Upside Down: Economic Policy in Turbulent Timeshttps://meetings.imf.org/en/2019/Annual/Schedule/2019/10/19/imf-seminar-per-jacobssonhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU
What this episode covers
What's misinformation about the economy? It's a well-known fact policymakers and Economists outright lie about any situation. But why? They say it's for your own good. The lies are beginning to pile up so much that officials now have to lie about their lies, including the very theory behind all of this especially when some of the theoreticians who came up with it no longer want to be the very purveyors of misinformation. Eurodollar University's Money & Macro AnalysisGeorge DeMartino Should Economists Deceive? Prosocial Lying, Paternalism, and the ‘Ben Bernanke Problem’https://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1256&context=peri_workingpapersDeLong & Summers How Does Macroeconomic Policy Affect Output?https://www.brookings.edu/wp-content/uploads/1988/06/1988b_bpea_delong_summers_mankiw_romer.pdfBrad DeLong Greater Depressionhttps://www.project-syndicate.org/commentary/j--bradford-delong-argues-that-it-is-time-to-call-what-is-happening-in-europe-and-the-us-by-its-true-nameBank of England Ben Bernanke to lead review into forecasting at Bank of Englandhttps://www.bankofengland.co.uk/news/2023/july/ben-bernanke-to-lead-review-into-forecasting-at-bank-of-englandBank of England Forecasting for monetary policy making and communication at the Bank of England: a reviewhttps://www.bankofengland.co.uk/independent-evaluation-office/forecasting-for-monetary-policy-making-and-communication-at-the-bank-of-england-a-review/forecasting-for-monetary-policy-making-and-communication-at-the-bank-of-england-a-reviewMervyn King Per Jacobsson Lecture: The World Turned Upside Down: Economic Policy in Turbulent Timeshttps://meetings.imf.org/en/2019/Annual/Schedule/2019/10/19/imf-seminar-per-jacobssonhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU
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Why Central Bankers are FORCED to Lie
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