Perhaps no person in the history of economics has inspired such
strong opinions, both for and against, as John Law. Some view Law
as a genius. To others he is considered a madman and swindler. In
many ways, he was all of these things
Chapter VIII in “On Freedom and Free Enterprise,” 1956.
One of the most destructive ideas in American history may be collapsing under its own unsupportable weight.
If pushing down the short-term interest rate doesn't seem to be fixing the economy, let's push down long-term rates and see what happens. Shucks, we might as well try! It would be a shame to not use this shiny printing press.
