Ludwig von Mises understood that the unpopularity of taxes tended to limit the extent that governments could spend. But, if governments are freed from needing to raise taxes for revenue, as central banks allow them to do, they are unleashed.
Fed management of the economy and the business cycle has only gotten much worse as it has grown more powerful and destructive. As the Federal Reserve has become more powerful, job losses have generally more severe and the duration of the recovery process has gotten progressively longer.
The most recent job report appears, on the surface, encouraging news for the U. S. economy.
The Economist recently opined that interest rates don’t affect investment.
A good sign for the future: Fed economist attacks the Gold Standard.
In case you missed it, be sure and check out the October issue of The Free Market, now o
The Economist recently opined that interest rates don't affect investment. This claim is based on an empirical study that contradicts what we already know: that lower prices lead to more demand. In the end, the problem lies with the researches who fail to account for the behavior of central bankers.
