This is a highly problematic article because the basis of his claims revolve around two iffy concepts: 1) That interest rate movements follow the economy, not

This is a highly problematic article because the basis of his claims revolve around two iffy concepts: 1) That interest rate movements follow the economy, not the other way around. This is false if you simply consider a different time frame for action. If you look at the graphs next to one another it may appear that his theory is correct, but if you consider a longer term causality ... then he's wrong and the bankers are right. 2) More disturbingly - he basically looks at post-war China, German, Japan and Korea as examples of where you can achieve 'high growth' without the neoclassical market liberalism type approach. This is ridiculous. It's very difficult to find value creating projects in mature economies. When your country is flat on it's back after a war - it's dam easy - especially if that country needs to 'rebuild what was already there' after a war (i.e. social/governmental institutions intact) - as opposed to 'building what was never there on the back of nothing' i.e. African countries. Heyzeus everyone knows this. Germany had no factories for gosh sakes. Maybe build some factories? Some roads? Power stations? etc. etc.. Most civilized nations rebounds sharply after disaster and it can be done with 'government intervention' because the investments needed are generally fairly obvious and lend to that governmental kind of stuff anyhow, i.e. infrastructure. So basically, his primary claims are false, the second one, surely so. Surely there are other options than having Central Banks - and they could feasibly operate more mechanically etc. - and surely we could just have stricter rules about money ... but if we want monetary policy of some kind, well then there's going to be a 'Central Bank' however you want to call it, 'committee' or whatever. Even if we go crypto, if there is flex in that crypto, then someone will have to decide how that algorithm works and evolves, and that team will effectively be 'the central bank'.