quinta-feira, 10 de maio de 2012

Avaliação do banco central como instituição

The Ultimate Disorganizing Organization
Mises Daily: Wednesday, May 09, 2012 by
"... In the remarks below I evaluate the Federal Reserve System — and the institution of central banking more generally — from the perspective of an organizational economist. While I strongly disagree with many of the key policies of the Federal Reserve Board both before and after the financial crisis and Great Recession, my argument does not focus on particular actions taken by this or that chair and board. The problem is not that the Fed has made some mistakes — perhaps addressed by restating its statutory mandate, scrutinizing its behavior more carefully, and so on — but that the very institution of a central monetary authority is inherently destabilizing and harmful to entrepreneurship and economic growth..."
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