Quarterly Journal of Austrian Economics
Author:
Mark Thornton
Online Publish Date:
part of the confidence game. The basic focus here will be on the Federal Reserve’s mission to instill confidence in us about the economy while simultaneously instilling to the central bank, the economy always looks good, if not great. If this message fails to have its intended effect, the central bank will proclaim that the economy is lenders require borrowers to put up collateral. What Kroszner seems to have failed to realize is that by allowing institutions to disperse their risk, the