Tuesday, October 22, 2013

QE origins - Werner on BBC

The BBC today has an article about the origin of the phrase 'quantitative easing' with a short voiceover from Richard Werner (the inventor of the phrase in the Japanese language) and his comments on the Bank of Japan's translation of the phrase into English. Werner has two issues with 'QE' - a minor one about the cumbersome and almost unpronounceable translation, but much more about the disregard of  his original article by central bankers to carry out something quite different but using that garbled phrase. As now explained on the BBC website.

You can see an earlier similar report on  this blog in 2010 .

I wonder what Dot Wordsworth of the Spectator thinks about ignoring an idea but misusing the term used to describe it?  Werner has it that correct practice of what he meant would have saved national economies the frustrating journey that many countries are still in. Millions of people might have been saved much financial trouble if he had been heeded. But it is never too late.   
posted by Charles Bazlinton

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