All Posts Tagged With: "expansionary monetary policy"
The Myth of the Independent Fed
Dr. DiLorenzo is a professor of economics at Loyola College in Maryland. Ever since its founding in 1913, the Fed has described itself as an independent agency operated by selfless public servants striving to fine-tune the economy through monetary policy. In reality, however, a non-political governmental institution is as likely as a barking cat. Yet, [...]
1Apr1997 | Thomas J. DiLorenzo | 4 comments | ContinuedNew Keynesians Finally Reject Keynes’s General Theory
“When people attempt to save more, the actual result may be only a lower level of output . . .” —Paul A. Samuelson[1] “Higher saving leads to faster growth . . .” —N. Gregory Mankiw[2] The two quotations above dramatically demonstrate the stark contrast between the “old” Keynesians and the “new.” Samuelson and the old-style [...]
1Sep1996 | Mark Skousen | 1 comment | Continued-
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