Sound Money: An Austrian proposal for free banking, NGDP targets, and OMO reforms

Anthony J Evans lays out the first, second and third best policies for monetary reform. He outlines reforms to quantitative easing policy that would reduce the distortions it causes; argues that inflation targeting and the Monetary Policy Committee should be replaced by an automatic nominal GDP target; and ultimately says the Bank of England should be scrapped altogether, replaced with privately-run ‘free banking’.

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