The Unseen Consequences of Zero-Interest-Rate Policy
The old tricks of conventional monetary stimulus — low interest rates — no longer work, so we've entered the untested waters of zero-interest-rate policy.
The old tricks of conventional monetary stimulus — low interest rates — no longer work, so we've entered the untested waters of zero-interest-rate policy.
The Mises University is the world's leading instructional program in the Austrian school of economics.
Money creation does not benefit equally. It creates a class of winners (those who get new money first) at the expense of losers (those who get new money later). Not surprisingly, an inflationary money supply increases the wealth and income gap in society.
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Despite little liberalization, global trade grew rapidly over the last decades only to collapse in 2009. Was this growth healthy, though?