I am a supporter of the Conservative government of Canada, but am hardly a bureaucrat. I work in the private sector and am well educated, but would hardly call myself an "academic"... I don't promote perpetual monetary stimulus, only enough to avoid deflation. Because yes, deflation is evil.
"deflation is evil." why don't you present proof? the fact that the liberal media and liberal economists and most politicians believe it makes it prima facies doubtful.
Proof? There is an entire decade of proof. It's called the Great Depression and it occured in the 1930's.
ideal is whatever is necessary to take out the excesses ie bubbles of the business cycle. most bubbles in the 20th century were caused by governments interfering with market forces. goverments ie fiat money and legislation are continuing to creating bubbles which will end in an economic collapse. giving market forces time to work is the solution. politicians looking at the next election will not allow it. you can expect bigger bubbles and then bigger busts as market forces take over. read the economic history of South America or from Zimbabwae to see what gov't interference creates.
correct but recovery came after the excesses in the system were washed out. excesses in advanced modern economies are not allowed to be washed out. the bubbles became greater. the inevitable bust will be much worse and will last much longer.