In a bus to NYC early in January 2005, I met this gorgeous girl who was reading a course in Economics. The textbook was open on a praise of the Fed and its role in regulating the National Economy, with an opposing page in a special color denoting higher science, that justified this role based on one macroeconomic equation by Keynes. It was too tempting, so I started a conversation.( Collapse )
Is it possible that Political Power be used in the interest of Liberty? Yes, sometimes it just does happen. Does that imply that on the whole, Political Power is good? Nope. But before you may reply to this kind of question, you have to be familiar with economic reasoning, as opposed to accounting fallacies. Then you will understand that before it may be answered, the question has to be refined: good as compared to what?