> The Fed's market manipulation is abhorrent to pure capitalism Perhaps, but systems should use managerial feedback systems to dampen large deviations. The inc

> The Fed's market manipulation is abhorrent to pure capitalism Perhaps, but systems should use managerial feedback systems to dampen large deviations. The incompleteness or the ineffectiveness of money-supply controls does not lead us to conclude that no managerial feedback should occur at all. EDIT: expanding on that, I'd say we often go 'round with that binary question, when we rarely ever ask, "what would be a more effective way to handle disruptions to the economy?" in which case we'd begin to examine the available and potential metrics, the tools of affecting behavior, and whether those tools can be used without violating autonomy. If we have successfully optimized for efficiency and available capital, as the article suggests, then how could we next optimize for risk, experimentation, and innovation?