Source: Ludwig von Mises Institute
by Ed Bugos
“Every economic school, other than the Austrian school, blames [manipulation of interest rates] on the inherent instability of the capitalist system. And as a result, they all believe the central bank exists in order to counteract these very tendencies and stabilize those wildly free markets. The Austrian school’s contention, on the other hand, is that the central bank creates the instability, and/or makes it worse than it otherwise would be, due to the impact of its forced expansion of credit (through the expansion of the monetary base) on interest rates in particular. In light of this analysis, it becomes evident that the central bank’s goals, which are repeated by the press every other day (balancing full employment and price stability) are blatant lies.” (10/28/24)
https://mises.org/mises-wire/boom-versus-growth-why-abct-superior-keynesianism