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Debates

Central Banks Can Print Prosperity

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Live Transcript
  • Printing Money Post-Financial Crisis

    Clip: Economists debate whether quantitative easing, printing money, helps or hurts the economy post-financial crisis.

  • Did Central Banks Slow the Economic Recovery?

    Clip: Economists debates how quantitative easing affected credit creation, spending, and overall economic growth.

  • Ben Bernanke's Quantitative Easing: Good Idea or Bad Idea?

    Clip: Would the former head of the Fed Ben Bernanke stand by quantitative easing? Economists debate the controversial monetary policy.

  • 2-Minute Debate: Can Central Banks Print Prosperity?

    Can central banks print prosperity? This debate short is part of a series co-produced by Intelligence Squared U.S. and Newsy.

Debate Details

Central banks all around the world have been printing money. This policy, known as quantitative easing in banker jargon, has driven up the price of stocks and bonds. But will it lead to real and sustainable increases in global growth, or is it sowing the seeds of future inflation?

The Debaters

For the motion

Roger Bootle

Executive Chairman, Capital Economics

Roger Bootle, one of the City of London’s best-known economists, is the executive chairman of Capital Economics, which he founded in 1999. Additionally... Read More

Simon Johnson

Fmr. Chief Economist, International Monetary Fund

Simon Johnson, former chief economist of the International Monetary Fund, is the Ronald A. Kurtz Professor of Entrepreneurship at the MIT Sloan... Read More

Against the motion

Edward Conard

Visiting Scholar, AEI & Former Partner, Bain Capital

Edward Conard is the author of the New York Times top-ten bestselling book Unintended Consequences: Why Everything You’ve Been... Read More

Andrew Huszar

Sr. Fellow, Rutgers Business School

Andrew Huszar is a senior fellow at Rutgers Business School, where his research focuses on the evolving intersection between government and the financial... Read More

Where Do You Stand?

For The Motion
  • Economies with central banks that conducted aggressive quantitative easing immediately following the financial crisis are experiencing stronger growth than those slow to adopt it.
  • By buying assets from financial institutions, central banks encourage these institutions to lend more to businesses and individuals, which can in turn leads to more spending and investment.
  • As individuals and businesses borrow and spend more, more jobs are created and the economy grows.
Against The Motion
  • There has been very little evidence that quantitative easing has done what it promised to do, and what small gains we have seen have been on Wall St., not Main Street.
  • By distorting the prices of stocks and assets, quantitative easing creates bubbles that can lead to recession.
  • If money circulates too rapidly, it is difficult to keep inflation at bay.
  • Quantitative easing pumps money into financial markets, allowing governments to ignore the real solution—structural reform of unsound economies.

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The Research

The Research

Quantitative Easing

December 31, 1969

Introductory videos on quantitative easing.

RIP QE3…Or Will It?

Richard Fisher
November 3, 2014

The costs of accumulating another $1.7 trillion of Treasuries and MBS will be shown to exceed the benefits.

How the Fed Saved the Economy

Ben S. Bernanke
October 4, 2015

Full employment without inflation is in sight. The central bank did its job. What about everyone else?

FORAGAINSTBackgroundQE Comparison
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