Free Market
Author:
Jeffrey M. Herbener
Online Publish Date:
we’re told, are the very foundation of the economy and thus cannot be subject to competitive pressure or to changes in consumer demand. Butchers and bakers can go This agitation led to congressional enactment of more and more centralized policies, culminating in passage of the Federal Reserve Act in 1913. Modeled after Interstate Commerce Commission—the Fed eliminated “cutthroat” banking competition, often denounced as “wildcat banking.” This way the larger more