560: American Economist and Professor, Steve Hanke, on Rewriting the Rules of Our Financial System

560: American Economist and Professor, Steve Hanke, on Rewriting the Rules of Our Financial System

Central banks in major economies have repeatedly misread inflation trends by relying on models that omit a fundamental economic lever: the money supply. In this episode, economist Steve Hanke offers a detailed critique of prevailing post-Keynesian frameworks and the policy missteps that have followed. Drawing on historical and current data, Hanke underscores the predictive power of the quantity theory of money, a model largely excluded from central bank thinking, and explains how ignoring this leads to erroneous inflation forecasts and misguided interventions.

The discussion outlines how inflation, often attributed to exogenous shocks such as supply chain disruptions or geopolitical events, is more reliably explained by changes in the money supply. Hanke presents evidence that inflation today is the result of decisions made one to two years prior, making it critical to focus on monetary trends rather than short-term data fluctuations. He further contrasts U.S. and Chinese monetary responses, highlighting how both under- and over-corrections in money supply growth have resulted in either recessionary pressures or deflation.

Key insights from the episode include:

- The quantity theory of money remains one of the most reliable frameworks for anticipating inflation, yet is absent from mainstream economic models used by central banks.

- Inflation is always a monetary phenomenon, rising or falling primarily in response to shifts in the money supply, not due to external shocks, which only affect relative prices.

- U.S. monetary policy is currently on a path toward recession, not inflation, due to anemic money supply growth since 2022, a trend Hanke predicts will continue unless reversed.

- Regime uncertainty, policy volatility that undermines business investment, amplifies economic stagnation. Drawing parallels to the New Deal era, Hanke warns that unclear or shifting fiscal and regulatory rules will delay recovery even further.

- Most of the money in circulation is created by commercial banks, not central banks. Post-2008 regulations have constrained these institutions, diminishing their role in supporting economic growth.

Taken together, these points call for a recalibration of macroeconomic policy, placing money supply at the center of analysis and re-empowering commercial banks to function as essential components of the financial system. For senior leaders navigating strategic decisions, the episode provides a timely and data-grounded lens on the structural drivers shaping inflation, recession risks, and economic stability.

Get Steve’s book here: https://shorturl.at/t5uDw

Making Money Work: How to Rewrite the Rules of Our Financial System

Here are some free gifts for you:

Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach

McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf

Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

Episoder(499)

158: Location is leverage or proximity is leverage (Monday Morning 8 a.m. #29, part 3)

158: Location is leverage or proximity is leverage (Monday Morning 8 a.m. #29, part 3)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo To get a copy of some of the previous issues you might have missed, get the Strategy Insights book. If you love Strategy Insights and support it with reviews on Goodreads and Google Play (and support on Amazon is very much appreciated) by May 30th 2021, please email support@firmsconsulting.com as we will be sending 1-month access to the accompanying course as a gift to members who loved and supported the book with reviews. P.S. If you want to support the Monday Morning 8 a.m. and our other work, there are many ways you can do that, including reviews on iTunes / Amazon / Goodreads / app, purchasing our memberships / books, applying to join our prelaunch team, or just spreading the word. Some links above are affiliate links. As an Amazon Associate, we earn from qualifying purchases.

26 Mai 202115min

157: Google, Apple, Microsoft, Amazon and Facebook's AI advantage (Monday Morning 8 a.m. #29, part 2)

157: Google, Apple, Microsoft, Amazon and Facebook's AI advantage (Monday Morning 8 a.m. #29, part 2)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo To get a copy of some of the previous issues you might have missed, get the Strategy Insights book. If you love Strategy Insights and support it with reviews on Goodreads and Google Play (and support on Amazon is very much appreciated) by May 30th 2021, please email support@firmsconsulting.com as we will be sending 1-month access to the accompanying course as a gift to members who loved and supported the book with reviews. P.S. If you want to support the Monday Morning 8 a.m. and our other work, there are many ways you can do that, including reviews on iTunes / Amazon / Goodreads / app, purchasing our memberships / books, applying to join our prelaunch team, or just spreading the word. Some links above are affiliate links. As an Amazon Associate, we earn from qualifying purchases.

25 Mai 20219min

156: 7-Eleven’s inconvenient truth about convenience (Monday Morning 8 a.m. #29, part 1)

156: 7-Eleven’s inconvenient truth about convenience (Monday Morning 8 a.m. #29, part 1)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo To get a copy of some of the previous issues you might have missed, get the Strategy Insights book. If you love Strategy Insights and support it with reviews on Goodreads and Google Play (and support on Amazon is very much appreciated) by May 30th 2021, please email support@firmsconsulting.com as we will be sending 1-month access to the accompanying course as a gift to members who loved and supported the book with reviews. P.S. If you want to support the Monday Morning 8 a.m. and our other work, there are many ways you can do that, including reviews on iTunes / Amazon / Goodreads / app, purchasing our memberships / books, applying to join our prelaunch team, or just spreading the word. Some links above are affiliate links. As an Amazon Associate, we earn from qualifying purchases.

24 Mai 202110min

155: Taming the beast tech has become with actionable solutions. With Cognizant's Ben Pring

155: Taming the beast tech has become with actionable solutions. With Cognizant's Ben Pring

How can we take back control of technology so it will shape the society we want for ourselves instead of becoming a monster we can no longer tame? Monster: A Tough Love Letter On Taming the Machines that Rule our Jobs, Lives, and Future - https://amzn.to/3fAeX8T Ben Pring co-founded and leads the Center for the Future of Work at Cognizant, an American multinational technology company that provides consulting, information technology and outsourcing services. Ben sits on the advisory board of the Labor and Work Life program at Harvard Law School. In 2018 Ben was a Bilderberg Meeting participant. Ben was named as one of 30 management thinkers to watch in 2020 by Thinkers 50. He was recently named a leading influencer on the future of work by Onalytica. In 2007, Ben won Gartner's prestigious Thought Leader Award. His work has been featured in the Wall Street Journal, the Financial Times, the London Times, the Drucker Forum Report, Business Insider, Forbes, and Fortune. Based near Boston since 2000, Ben graduated with a degree in Philosophy from Manchester University, in the UK where he grew up. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

20 Mai 20211h 1min

154: Harvard's Gorick Ng on career secrets

154: Harvard's Gorick Ng on career secrets

"The book demystifies what managers expect but never explain and what top performers do subconsciously. These unspoken rules create an unlevel playing field between insiders and outsiders. My book bridges the divide by giving all early-career professionals the concrete, tactical advice they need to excel." The Unspoken Rules: https://amzn.to/2Rwzx1L Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

19 Mai 202159min

153: The experience economy strategy (Monday Morning 8 a.m. #28, part 2)

153: The experience economy strategy (Monday Morning 8 a.m. #28, part 2)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo To get a copy of some of the previous issues you might have missed, get the Strategy Insights book. If you love Strategy Insights and support it with reviews on Goodreads and Google Play (and support on Amazon is very much appreciated) by May 30th 2021, please email support@firmsconsulting.com as we will be sending 1-month access to the accompanying course as a gift to members who loved and supported the book with reviews. P.S. If you want to support the Monday Morning 8 a.m. and our other work, there are many ways you can do that, including reviews on iTunes / Amazon / Goodreads / app, purchasing our memberships / books, applying to join our prelaunch team, or just spreading the word. Some links above are affiliate links. As an Amazon Associate, we earn from qualifying purchases.

18 Mai 202111min

152: The checkmate asset the world doesn’t know China is attracting (Monday Morning 8 a.m. #28, part 1)

152: The checkmate asset the world doesn’t know China is attracting (Monday Morning 8 a.m. #28, part 1)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we’re going to focus on four major themes from last week’s news.    To listen to the audio version of this newsletter, search for “Strategy Skills” in any podcast app. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo To get a copy of some of the previous issues you might have missed, get the Strategy Insights book. If you love Strategy Insights and support it with reviews on Goodreads and Google Play (and support on Amazon is very much appreciated) by May 30th 2021, please email support@firmsconsulting.com as we will be sending 1-month access to the accompanying course as a gift to members who loved and supported the book with reviews. P.S. If you want to support the Monday Morning 8 a.m. and our other work, there are many ways you can do that, including reviews on iTunes / Amazon / Goodreads / app, purchasing our memberships / books, applying to join our prelaunch team, or just spreading the word. Some links above are affiliate links. As an Amazon Associate, we earn from qualifying purchases.

17 Mai 202117min

151: Jonathan Byrnes, MIT. Build a targeted business that the likes of Google & Amazon can’t match

151: Jonathan Byrnes, MIT. Build a targeted business that the likes of Google & Amazon can’t match

Every year, managers at companies large and small are finding it harder to compete with the likes of Google and Amazon, who are muscling into their businesses, stealing their customers, and cornering every conceivable market and service. Jonathan Byrnes, MIT-based expert on profits, pricing, and strategy, is a co-author of CHOOSE YOUR CUSTOMER: How to Compete Against the Digital Giants and Thrive (McGraw-Hill, May 11, 2021). The book illustrates how companies can survive—and win. CHOOSE YOUR CUSTOMER is a powerful and timely guide for managers to level the playing field against their biggest competitors by choosing and providing value to the right customers by: Identifying and focusing on the customers who are the most profitable. Providing services and experiences that can’t be replicated by the tech giants, no matter how much data they have, or how much automation they use. Supporting your chosen customers’ diverse and rapidly evolving needs to accelerate profitability and growth. These customer-driven strategies enable leaders to build a uniquely targeted business that the digital giants just can’t match. From unbeatable customer service to superior pricing and product selection, CHOOSE YOUR CUSTOMER provides detailed and actionable advice on how to compete successfully with the aggressive giants and how to increase profits as a result. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

16 Mai 20211h 13min

Populært innen Business og økonomi

stopp-verden
dine-penger-pengeradet
rss-penger-polser-og-politikk
e24-podden
rss-borsmorgen-okonominyhetene
pengepodden-2
utbytte
livet-pa-veien-med-jan-erik-larssen
pengesnakk
tid-er-penger-en-podcast-med-peter-warren
morgenkaffen-med-finansavisen
stormkast-med-valebrokk-stordalen
lederpodden
rss-sunn-okonomi
rss-rettssikkerhet-bak-fasaden-pa-rettsstaten-norge-en-podcast-av-sonia-loinsworth
okonomiamatorene
finansredaksjonen
rss-investering-gjort-enkelt
rss-andelige-tanker-med-camillo
rss-fa-makro