Government Banks Would Be a Dangerous Tool for Progressive Ideologues

Last month, Democratic Congresswomen Rashida Tlaib and Alexandria Ocasio-Cortez proposed a bill that would allow the incorporation of financial institutions controlled by states and municipalities. These banks would be not-for-profit, tightly regulated, and given special government subsidies. The Congresswomen claim that public banks are necessary because the private sector has been “rigged” against “those grappling with the costs of simply trying to participate” in the economy.

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Joshua D. Glawson is a writer on several topics including politics, philosophy, economics, and precious metals.

Rethinking Keynesian Theory: Debunking Interest Rates and Inflation Myths

In the realm of macroeconomics, a legion of PhD economists in central banks passionately contends that interest rates are a pivotal policy tool for managing the economy. Simultaneously, these economists firmly uphold that the Consumer Price Index (CPI) is an accurate gauge for measuring inflation—a widespread acceptance of this CPI as a valuable metric.

The current theoretical state of macroeconomics should be classified as negative knowledge, akin to asserting that the earth is flat. One should have a better understanding of macroeconomics before delving into the topic.