You Always Hurt the One You Love

Bernard Connolly's book argues that protracted central bank intervention has undermined market signals and produced recurring macroeconomic imbalances.

He traces how monetary authorities' actions distort investment and consumption decisions, leading to misallocation of capital and recurrent crises.

The work blends technical critique with historical and political analysis to challenge prevailing macroeconomic orthodoxies.

Connolly highlights the long-term costs of suppressing market discipline, advocating for a reassessment of central bank mandates.

The book is influential among heterodox economists concerned with the structural effects of monetary policy.