Del två av Erin Ades intervju med Richard Werner börjar vid 14:30 i klippet nedan:

Richard talks to us about the Federal Reserve’s quantitative easing and gives us his take on wage growth and household debt levels. The credit easing that Ben Bernanke did in the first round of quantitative easing, qualitatively was closer to what Werner proposed when he first created the idea of quantitative easing in the early 1990s. But the other forms of QE will not increase credit growth because bank balance sheets are still encumbered. Richard believes a target for nominal growth would be an improvement over present central bank policy.