One of the most pernicious effects of the Fed’s policies on American politics, especially over the past 25 years, has been what increasingly seems to be a homogenized set of policy choices. Identifying this homogenizing effect has been one of the themes of Mixed Market Artist. [youtube width=”560″ height=”315″]https://www.youtube.com/watch?v=vS-zEH8YmiM[/youtube] For example: Americans elected the “Not Bush”…
We can pretend that what has not had the greatest effect on the economy during the Obama years is ZIRP or zero interest rate policy. We can pretend that the force of Federal Reserve liquidity provisions is a lesser force than the accomplishments of President Obama and Washington politicians throughout this period. We can pretend that Washington…
When the division of labour has been once thoroughly established, it is but a very small part of a man’s wants which the produce of his own labour can supply. He supplies the far greater part of them by exchanging that surplus part of the produce of his own labour, which is over and above…
