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Olduvai III: Catacylsm
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Interest Rates, Funny Money, and Economic Malaise

Interest Rates, Funny Money, and Economic Malaise Since the 2007–8 financial crisis, more and more economists have entertained the idea that there might be some connection between artificially low interest rates and business cycles. By “artificially low” I mean interest rates that are pushed below their natural levels by expansionary monetary policy. The relationship between monetary policy […]

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The Federal Reserve: A Failure of the Rule of Law

The Federal Reserve: A Failure of the Rule of Law “Money is power.” We’ve all heard this aphorism many times before. Too often it’s a lazy shorthand dismissal of the finding of mainstream economics, which show that the pursuit and possession of money often entails innocuous or even beneficial consequences for society. Dr. Johnson was […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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