Stiglitz: Inflation targeting and central bank practices have been deeply flawed
“The crisis has brought home something that should have been recognised even before the crisis: managing inflation is not an end in itself but a means to an end. The end is a more stable economy – not just price stability but real stability – and an economy that is growing faster in a sustainable way. We ought to be concerned about how the economy affects ordinary individuals. And here, employment and wages are critical.”
David Parker relays his meeting with Noble Prize winner Joseph Stiglitz in New York