Andy Haldane, Bank of England’s Chief Economist, said that the Bank of England should embrace simpler explanations, such as calling QE “printing money”. The Bank is now producing cartoons, videos, games and competitions, as well as starting a new outreach programme, to help improve people’s understanding of the links between the economy and their everyday lives, according to Financial Times, 27th Nov 2017
“Economists must work harder to help the public understand and accept their message.
If economics or economic policy is elitist and inaccessible to most people, it is not doing its job.”
An “improved understanding . . . would probably help many people when making everyday decisions, big and small”.
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