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Not a conspiracy - the economists at central banks are just incompetent and beholden to junk theory, not intentionally malicious or controlling. There aren't "s
by stephen_g 4y ago
Not a conspiracy - the economists at central banks are just incompetent and beholden to junk theory, not intentionally malicious or controlling. There aren't "simple concepts like how increasing the cost of money quells demand" - that's linear, static thinking when the economy is a complex dynamic system.
- jbay808 4y agoJust because "brakes slow a car down" is a prediction of a simple theory of an idealized car, doesn't mean that a more complete and nuanced theory will give a different prediction. Furthermore, interest rate policy is basically a single lever with "up" or "down" positions. There's not a lot of room for nuance in the policy, regardless of whether the theory that recommends that policy is simple or nuanced.