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The failure of monetary union has been complete and abject.
The crisis isn't just a failure of monetary policy, but a failure of the monetary regime.
I cannot see strong unemployment data as a failure of monetary policy, Osborne continues.
The failure of monetary policy in the current crisis shows that Keynes had it right the first time.
The big question, relevant here too, is whether this was a failure of monetary policy or of regulatory policy.
And the failure of monetary policy to deliver a sustained, balanced recovery has meant deficit-reduction plans have had to be torn up too.
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It is in this context, combined with new realities of the 21st century – including recent failures of monetary and financial regulatory policy, the rise of China, and such unattended global problems as microbial resistance to drugs and climate change – that it is time for the US to reconsider its role as a donor and supporter of international development.
Turkey's dramatic financial collapse is anothercatastrophic failure of the International Monetary Fund.
In 2005, as the Japanese economy was showing signs of recovery from years of stagnant growth, Haruhiko Kuroda wrote a book titled "Success and Failure of Fiscal and Monetary Policy".
But that was a failure of bank supervision, not of monetary policy.
Whether it's a cause or a symptom of Japan's problems remains debatable, but the failure of the country's monetary authorities to beat deflation – the phenomenon of average prices falling – has led to understandable anger.
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