Hobbes is famous for his early and elaborate development of what has come to be known as âsocial contract theoryâ, the method of justifying political principles or arrangements by appeal to the agreement that would be made among suitably situated rational, free, and equal persons.
TODAY the European Central Bank (ECB) launches its long-awaited programme of quantitative easing (or QE), adding lots of public debt to the private kind it has already been buying. Its monthly purchases will rise from around â¬13 billion ($14 billion) to â¬60 billion until at least September 2016.
When an economy is in danger of slipping into a recession or depression, governments can employ a strategy known as quantitative easing (QE). Quantitative easing is a monetary policy instituted by central banks in an effort to stimulate the local economy. Also, the status of the U.S. dollar as the world reserve currency is in jeopardy, likely because of quantitative easing. 2  Benefits donât outlast QE programs. 3  When the central bank stops printing money, the recovery often gets put on hold, or worse, begins to reverse.