After following hyper-Keynesian policies for more than two decades, the Fed is about to create the conditions that Keynesians claimed were impossible: an inflationary recession.
This year's trio of Nobel winners in economics are short on actual economics and long on government intervention.
Former Fed chairman Ben Bernanke and two other economists have received the Nobel in economics this year. Their work on banking is weak on causality and fails to recognize the damage done by the central bank.
The Fed claims 2 percent inflation promotes "price stability." However, that policy also causes the boom-and-bust cycle, which is anything but stable.
Recovery is genuine only when it reaches the masses of individuals. And recovery comes only from the actions of individuals acting in a free market.
The Fed claims 2 percent inflation promotes "price stability." However, that policy also causes the boom-and-bust cycle, which is anything but stable.
Conservatives have missed the point that it is not students particularly that are at fault for the student loan crises, but the entire bureaucratic economic-political system.
Recovery is genuine only when it reaches the masses of individuals. And recovery comes only from the actions of individuals acting in a free market.
Post-Keynesians believe that capitalism is internally unstable, leading to necessary intervention by the central bank. Austrians see that as backward reasoning, as policies by the central bank to create credit from nothing is the problem.
Conservatives have missed the point that it is not students particularly that are at fault for the student loan crises, but the entire bureaucratic economic-political system.
