The case for replacing Mervyn King with a robot

Seán Keyes explores market monetarism, where boom and bust really are banished, recession is all in the mind, and central bankers are replaced by machines.

What if the recession wasn't real? What if the UK economy could return to its former growth path quickly and almost without any cost? And what if all that was needed to start this process was a short statement from Bank of England governor Mervyn King?

A growing number of economists believe just that. They are called 'market monetarists'. And, led by Bentley University's Scott Sumner (read his great blog, TheMoneyIllusion), their ideas are suddenly being endorsed by some of the biggest names in economics and banking.

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Sean Keys graduated from Trinity College, Dublin with a BA in economics and political science and, in 2009, from University College Dublin with an MA in economics. His MA thesis was on the likely effects of deficient eurozone governance structures.