Policy flaw at heart of the ECB

FEATURE - Keynes eroded the firmly-held idea that there were mysteries about central banking which justified secrecy about how it was meant to work. The process of erosion has taken a long time. This article was written by Professor Sir Alan Peacock in the Scotsman newspaper.

Professor Sir Alan Peacock is honorary research professor in public finance, Heriot-Watt University, erstwhile chief economic advisor of the DTI, and an honorary trustee of the David Hume Institute.As a junior lecturer in

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