Corrections

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Text from Val-entin - English

  • Central banks

  • Monetary policies demand a long-term view that is not compatible with the political cycles.
  • Politicians are short-sighted because they want to win the next elections.
  • Before elections, they would implement expansionary policies in order to reduce unemployment but those policies increase inflation.
    • After the election, they would fight unemployment through contractionary policies but those policies lead to high interest rate and unemployment rise.
  • Politicians are short-sighted whereas the independent central banks are long-sighted.
  • Moreover, the independence of the central banks prevents government from financing the deficit through expansionary policies.
    • Lastly, some people argue that monetary policy is too technical and complicated for politicians and citizens who are not educated on.
  • That is why only technocrats are believed to be qualified enough to develop monetary policies.
  • Besides, as the central bank is not elected, it can implement unpopular policies if it is in the interest of the citizens.

PLEASE, HELP TO CORRECT EACH SENTENCE! - English