Central Banks

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Douglas French

Like Orwell‘s famous statement from Animal Farm, “All animals are equal, but some animals are more equal than others,” it turns out that bank bailouts are not as equal as the state would like us to believe. Unsurprisingly, benefits accrue to the banks with the biggest depositors.

Frank Shostak

A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story.