Last Friday, I picked up the previous Thairath headline and rewrote it for the Ministry of Finance and the Bank of Thailand or the Bank of Thailand. Come sit and talk with both sides open-mindedly because I see that there will only be loss and loss to the point of collapse and destruction. If the government will only criticize the national bank found to be too independent, as has been reported When the Prime Minister gave an interview that he would send the new Finance Minister, Mr. Pichai Chunhavajira, to openly talk with the Governor of the Bank of Thailand. Therefore, I completely agreed and wrote a full column of support for as long as I could remember during my first and second year of economics studies at Thammasat University. The professor used to teach that the old economists used to be clearly divided into 2 schools. The first school was the original source of fiscal policy, which was the school of Lord Keynes or John Maynard Keynes, the originator of using the letter G or The government sector stimulates the economy in times of recession or depression. Lord Keynes said that using fiscal policy, especially the fiscal deficit, whether it comes from increasing government expenditures or tax reduction Or doing both things at the same time will help stimulate the economy very well, as when the economy expands too quickly, it may cause inflation. The government also uses a surplus fiscal policy, which means collecting more taxes. or spend less It will reduce expansion and reduce inflation later. Monetary Policy Office with Professor Milton Friedman of the University of Chicago Be the head of the office Opposite Lord Keynes, the latter suggested that the government should use monetary policy to stimulate the economy. or maintaining economic stability, such as using interest rates that fluctuate as the main Or increase and decrease the amount of money in the economy simultaneously without having to use many tax measures. Professor Friedman He opposes government intervention. through fiscal policy and prefer to use a more liberal monetary policy. This person is the originator of the theory that The central bank of each country must be independent of the government. Articles have been written and attacked quite fiercely for some time, causing middle-class economists to use both fiscal and monetary policy together because both have their weaknesses and The strong points are within Choosing the right one is likely to be more beneficial to the nation than developed countries all over the world, so they have turned to using these two policies in managing the economy together. Until now, I can’t remember the details of what the weaknesses and strengths of each policy were. But I remember the conclusion very well: Must be used together to get maximum benefit. When there is news that The new Finance Minister will have an open discussion with the Governor of the Bank of Thailand. It made me think of the suggestions of middle-class economists that I studied with as a student at Tha Phrachan and I remember them clearly because more than 60 years have passed since I believed in the teachings of the Lord Buddha. Regarding the “middle path”, I also believe that The proposal of moderate economists to use both policies together is correct. And today the country is developed in every aspect. Including politics as well. They are already used together, so I hope that the Finance Minister will be able to talk with the Bank of Thailand with understanding. and for reasons Which I hope is the same. The Bank of Thailand will provide information and facts openly. Why are you unwilling to reduce the policy interest rate? The management of the nation must be based on facts. and correct information…I will only keep my own thoughts that it must be this way or that. Regardless of the facts, it will only fail and one child will fail, I hope. Meeting and discussion between the Finance Minister and the Governor of the Bank of Thailand this time It will have good results for maintaining economic and financial stability and developing Thailand. Both in the medium term and in the long term, oh my! “Zoom” click to read the column. More “Hehapati”
