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.
Austrian Economics OverviewCapital and Interest Theory
Money and BanksMoney and Banking
The consequences of counterfeiting are the same regardless of who does it. The counterfeiters are exchanging nothing for something — thus stealing from those who create real value.
In the short term, a central bank can drive up stock prices by lowering the interest rate. In the longer term, it could sap the strength out of an economy.
Booms and BustsFinancial MarketsMoney and Banks
Using Japan as a model, governments are steering us toward a worldwide zombie economy — but we're likely to end up with something that looks more like Argentina than Japan.