Central banks are major players in today's economic and financial policy making. While respected for their technical acumen and their pivotal role in defusing the global financial crisis, they are at the same time mistrusted by others and considered to be too powerful. In order to contribute to...

Contents: Part I: What were the causes of the Great Recession? -- Preface to part I / Tim Congdon -- 1. What were the causes of the Great Recession?: the mainstream approach vs. the monetary interpretation / Tim Congdon -- 2. The debate over 'quantitative easing' in the UK's Great Recession and...