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Explaining Malinvestment and Overinvestment
Larry Sechrest provides a concise (4000-word) explanation of the concepts of malinvestment and overinvestment and how they help us understand economic depressions and the boom-bust cycle.
Natural and Neutral Rates of Interest in Theory and Policy Formulation
The so-called art of central banking lies in picking the "right" target interest rate. But, there's no way to know the "correct" rate without giving markets freedom from central bankers.
