This book contends that central bank policy pits the Federal Reserve against consumers, creating business cycles and inflation. As the cycle proceeds, the velocity of money starts to rise, complicating the central bank's problems. Ultimately, either a depression or a runaway inflation develops. The gold standard would not alter patterns of supply and demand and would prevent business cycles and inflation.
Central bank policies inevitably alter patterns of supply and demand from what they would be, based on consumer sovereignty. This changes the mix of human and physical capital...
This book contends that central bank policy pits the Federal Reserve against consumers, creating business cycles and inflation. As the cycle procee...
