Market Monetarism and the Crash of 2008
By focusing on nominal GDP as an indicator of both economic conditions and a target of policy, the real problem with the financial crisis of 2008 was that policymakers misdiagnosed what was occurring. Market monetarism can help us better understand the underlying nature of the 2008 crisis, along with current issues in monetary policy.
Scott Sumner is a professor at Bentley University.
market monetarism, financial crisis of 2008, nominal GDP, economic conditions, monetary policy
Sumner, Scott. "Market Monetarism and the Crash of 2008." Ensemble video, 01:21:33. February 20, 2014. https://ensemble.dickinson.edu/Watch/w5FCo7p4