What should the interest rate be? The very question insults reason simply because economies are comprised of individuals, businesses and governments with wildly divergent pasts, presents and futures. An interest rate is a singular concept, not a number that a central planner can divine. What’s true about interest rates is similarly true about bank […]
The Arrogant Conceit of Bank Capital Requirements Read More »
Repeat it over and over again: there’s no interest rate, and there’s no such thing as interest rates. There are individuals, and individuals face a myriad of borrowing costs as numerous as there are people. The Fed can’t nor does it make credit easy or tight simply because an economy is people. And the
The Fed’s Critics vs Fed: Central Planners vs. Central Planners Read More »
A famous libertarian economic thinker, and memory says it was the late Walter Williams, was once presented on a talk show with the idea of a higher minimum wage. The suggestion was something like $7.25/hour to $10. In a paraphrase of Williams, he quizzically asked, “Why are you being so stingy? Why not raise
Where’s Walter Williams As Fed ‘Cuts’ Rates 50 Basis Points? Read More »
