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The Yo-Yo Tactic: Stop and Go Economics
In an op-ed for the Wall Street Journal, Fed Chairman Ben Bernanke commented on his “exit strategy”. There is a large amount of money floating around in the economy, and the Fed is finally starting to worry about it. Thus far, banks have held back the flow by keeping high reserves, but as Bernanke says in his […]
READ MORE“Competing Money Supplies”
“What would be the consequences of applying the principle of laissez-faire—that is, completely free markets—to money? While the idea may seem strange to most people, economists have debated the question of competing money supplies off and on since Adam Smith’s time. In recent years, trends in banking deregulation, developments in electronic payments, and episodes of […]
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