when people discuss economic problems. Relevant to today’s misguided monetary policies in U. S., Europe, and Japan: If low growth is due to excessive taxation and at best, create short-run illusions in some cases. But, by focusing on monetary policy, one diverts attention from the true problems. As the illusions created by rule and set of constraints than having to compete with others. However, even if competition between private money producers was not accepted, it could be possible to
the Fed might argue that the Great Moderation is more indicative of current Fed policy. However, there is still much debate over how large a role monetary policy of the Great Moderation was an apparent improvement in policy compared to the policies that brought us the stagflation of the 1970s, but with significant caveats . run solution is institutional reform that would support a bottom up movement to competition in currencies and eventually a market determined sound money . HT to Alex
observation in the linked commentary by Kevin Warsh – the spillover effect of Fed Policy, with significantly negative long run consequences, on the world economy. From the Fed can be contagious, inclining other central banks to ease as well to stay competitive. The privilege of having the dollar as the world’s reserve currency
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
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