The Bank of England will publish a book aimed at improving the British public’s understanding of economics later this year. Its title will be “Can’t we just print more money?”. The BoE ended an 895-billion-pound ($1.2 trillion) programme of bond purchases. A policy often dubbed money printing and which critics blame for fuelling inflation.
BoE officials have stressed that the purchases do not involve the literal printing of banknotes. Weimar Germany and other countries hit by hyperinflation and also rejected suggestions from some economists, that it effectively financed government spending in the COVID-19 pandemic. After announcing the new book, the BoE said that it would be published on May 19. That proceeds from the sales would be used to provide free copies for schools.
The book aims to answer questions about the clothes made in Asia and what actually money is. It has been written by two BoE economists, Rupal Patel and Jack Meaning. They work on financial stability and macroeconomics. The publisher is Penguin Random House.