Mises Wire
Author:
Frank Shostak
Peter Stellios
Online Publish Date:
level of interest rates. It is also argued that despite a steep downtrend in the policy rate since 1980, the underlying growth of the US economy has been following a is a decline in the population growth and the lack of sufficient technological innovations. It is held that slower population growth coupled with a lower speed of cyclical nature but rather of a secular trend, which cannot be handled by monetary policy, so it is held. Hence it is advocated that the solution should come from a