Robert P. Murphy discusses the “boom and bust” business cycle and what exacerbates it; why the Federal Reserve – with a primary mandate of ensuring price stability – is a demonstrable failure; how Ron Paul popularized the Austrian school of economics and removed the aura of infallibility from Fed chairmen Alan Greenspan and Ben Bernanke; why we shouldn’t focus solely on the Fed – lest we forget the pernicious roles of big banks and insurance companies; whether Bernanke is an academic doggedly pursuing failed theory or a banker stooge who knows better; and the virtues of the movie “Inside Job.”
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