from Steve Forbes, The Fed Needs A New Leader–And New Policies, Too: Yellen openly and unapologetically made clear that our central bank still hews to the discredited theory that prosperity causes inflation. “The economy is operating relatively close to full
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from Steve Forbes at Forbes Magazine, Reckoning for Biggest Wrecker of U.S. Economy: Economies aren’t machines that can be calibrated, like automobiles. They are billions of people making decisions numerous times a day. The idea that central planners, whether they’re
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Steve Forbes writes Gold and the Wicked Magicians in the November 19, 2012 issues of Forbes. Excerpts: Despite thousands of years of experience to the contrary, central bankers and countless policymakers and economists believe that money manipulation can stimulate and
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As Steve Forbes stresses, the role of currencies is to serve as a standard of value, representing a measuring stick of the worth of goods and services. “Floating the currency is like floating the clock. Let’s say you floated the
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Economists ill-serve themselves be describing economics as being about the allocation of scarce resources. It is about the creation of resources. Oil, for instance, is described as a natural resource. It isn’t. In and of itself it is simply sticky
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