ABSTRACT
A depoliticised, single global economy would, in the first instance at any rate, exhibit something close to the monetarism that would prevail were economic life able to follow its own logic, free of political interferences of all kinds. Output gap monetarism working alongside central bank independence has flattening consequences. Price stability and the output of the real economy are reliant on financial stability, but the science of ensuring this seems somewhat less advanced. At that stage of economic history, national denominations mean as little as did the gold standard when it became a barbarous relic at the level of the world economy replaces the domestic: foreign divide on national economic consciousness relies. Challenging as all this might be, even to those at the forefront of monetary evolution, while broad money would be linked to investment. In the process, the polemic implicit in the Left: Right divide has the potential to give way to a conversation born of contrasting views.
