Tag Archives | Fed

Time Interest

What Is Interest?

There is a large consensus among microeconomists that “messing with” prices is not good. Among these prices, there is greatest consensus that rent control distorts the efficient allocation of resources. Despite the relative consensus among economists about price controls, there is seemingly no recognition that tinkering with interest rates will similarly distort the efficient allocation…
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End the Fed

MIT Economist, Former IMF Chief Engages Ron Paul on Banking and Makes an Interventionist Mistake

Ron Paul’s economic philosophy and book End the Fed got some crucial publicity and thoughtful debate on Saturday. Simon Johnson, MIT economist and former IMF chief-economist,  wrote in the New York Times economics blog that more people should take Dr. Paul seriously. Unfortunately he advises Dr. Paul promote some very anti-free market, and counter-productive measures.…
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