Economics textbooks describe monetary policy as though it were administered by experts who know how to fix problems in the economy. In truth, there is no such thing as “monetary policy”; what we have is the Federal Reserve engaging in wealth transfers.
Reich, Elizabeth Warren, and other leftists never address the root cause of what they correctly diagnose as excessive corporate power: the Federal Reserve.
Stephanie Kelton, the most visible promoter of MMT, is being derelict in her academic duties by not replying to Per Bylund’s critique of her theories in the Quarterly Journal of Austrian Economics.
Commercial real estate in the USA is facing a major crisis which could not have been possible without the enabling of the Fed and the draconian restrictions imposed during covid. As commercial real estate prices collapse, the usual suspects call for even more bailouts.
What does the state do when in a financial fix? Unlike the rest of us, it legally counterfeits. By so doing, it transfers wealth to those who are politically connected—and then lies about it.
Stephanie Kelton, the most visible promoter of MMT, is being derelict in her academic duties by not replying to Per Bylund’s critique of her theories in the Quarterly Journal of Austrian Economics.
Alexander Salter argues that “there’s no good reaso
Ordinary people cannot stop the Fed and the government from inflating the currency, but they can take measures to shield themselves from some of its harmful effects. Mark Thornton presents a few ideas on how it can be done.
What does the state do when in a financial fix? Unlike the rest of us, it legally counterfeits. By so doing, it transfers wealth to those who are politically connected—and then lies about it.
Keynesian economists believe that the key to increasing economic growth is increasing the supply of money in circulation. Money, however, is a means of exchange, not a means of payments. The difference is vital to understanding economics.
