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The EnvironmentBusiness Cycles
Easy-money policies pushed by central banks may be redirecting wealth away from investment, and toward greater production and consumption of cheap consumer goods. That's not "green."
The diversion of real funding from the private sector toward government projects — no matter how important these projects appear to be — in fact, disrupts the process of real wealth generation.
Justin Raimondo said things that were painful to hear. He said things that needed saying. He encouraged me. He encouraged friends of mine. He encouraged colleagues of mine.
Money and BanksMoney and Banking
The central bank can try to manipulate the interest rate to whatever level it desires. However, it cannot exercise control over the underlying interest rates as dictated by people’s time preferences.
Philosophy and Methodology
The experience with which the sciences of human action have to deal is always an experience of complex phenomena. No laboratory experiments can be performed with regard to human action.
Central banks contend they can avoid booms and busts by increasing the money supply the "correct" amount. They are bound to fail.
Rather than increase efficiency and profitability, corporate managers look for easy ways to increase their salaries through leveraged buyouts. And central banks have a key role in making this easier and more common.