After an earlier article by Zachary Yost on a call by military “experts” to reinstate the military draft, the authors of the original paper are trying to back off on their original recommendation. But there is no doubt as to what they want the government to do.
Forget the New York Times and other publications that cheerlead for the current regime. Austrian economics spells out the consequences for reckless monetary policies, and those consequences are unavoidable.
The Federal Reserve claims to know the “neutral” rate of interest, as though these things can be known administratively. Either interest rates are set by the market or done by fiat; it cannot be both simultaneously.