Saturday, November 19, 2011

Mass Unemployment Is A Small Price To Pay For, uh.. something

Basically, the idea is that central banks need to prove the aren't crazy inflation lovers. They do this by proving that they're crazy inflation haters, that they'd kill their mothers, or at least YOUR mother, in order to keep inflation low. This means keeping inflation low even when it's "crazy" to do so. Even if it impoverishes a lot of mothers of people who don't run central banks.