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Willem H. Buiter

Willem H. Buiter

Willem H. Buiter is visiting professor of international and public affairs at Columbia University.
Willem H. Buiter is visiting professor of international and public affairs at Columbia University.
Languages Spoken:
English

Macroscope | Sustained slower growth may be a reality, but high inflation can be tamed

War and the pandemic left most countries facing high inflation and low growth in 2022. Yet while there is always the risk of further shocks, stagflation need not become a long-term problem, provided monetary authorities maintain restrictive policies.

Believers in cryptocurrency insist it offers a transparent, decentralised alternative to the fiat monetary system. In reality, it has all the same inconsistencies, with the added drawbacks of being spectacularly risky, carbon intensive and easily co-opted for cybercrime.

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Bitcoin is an excessively risky and environmentally undesirable investment, not a sensible solution to emerging market problems. It cannot possibly serve as a store of value or reliable medium of exchange.

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Related Topics
BitcoinBanking & financeUkraine war