Why the Fed Gets Economics Wrong

Economics (in general) is populated at its core by a lot of bad ideas. And these bad ideas have come to be accepted as the correct interpretation of how the economy functions and thus have become the basis for economic policy. This news shouldn’t come as a shock since I’ve written about this many times over the years in Thoughts from the Frontline. Economics is an enormously useful tool for those of us who are trying to understand business and investments and government policy. But to paraphrase Dirty Harry, “An economist has to know his limitations.”
The Market Oracle

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