Mises Daily
Author:
Hal Snarr
Online Publish Date:
said, “The general notion the Fed was propagator of the bubble by monetary policy does not hold up to the evidence. ... Everybody missed it — academia, the see the seeds of collapse in the successive credit booms, aided and abetted by Fed policies.” The Failure of the Mainstream Despite the unprecedented fiscal and and raises investment as consumption and profits fall. Shrinking profits prompts innovation. Lower interest rates promote the discoveries, production, and adoption of