

The Money Illusion
Market Monetarism, the Great Recession, and the Future of Monetary Policy
Author: Scott Sumner
Narrator: Steven Jay Cohen
Unabridged: 14 hr 6 min
Format: Digital Audiobook Download
Publisher: Tantor Media
Published: 11/23/2021
Categories: Nonfiction, Business & Economics
Synopsis
Foregoing the usual relitigating of the problems of housing markets and banking crises, renowned monetary economist Scott Sumner argues that the Great Recession came down to one thing: nominal GDP, the sum of all nominal spending in the economy, which the Federal Reserve erred in allowing to plummet. The Money Illusion is an end-to-end case for this school of thought, known as market monetarism, written by its leading voice in economics. Based almost entirely on standard macroeconomic concepts, this highly accessible audiobook lays a groundwork for a simple yet fundamentally radical understanding of how monetary policy can work best: providing a stable environment for a market economy to flourish.