|
Rob,
Ty for starting this thread.
If we are going to approach the issue, in terms of what economic model is the best performing one out there, as an instrument of expansion.....then w/out a question - capitalism has proven to be by far - the most prosperous n successful economic model ever applied to a civilized society. The Fed has been there since 1913 and one can't quite separate I think, the efficiency of our economic model from Fed as an institution. In a way the model and the component structure (fed in this case) have performed in alternating order quite well, granted not to perfection but with a decent record overall, in terms of providing growth and stimulating prosperity through dffrnt measures.
I do believe fed is the most infuential institution of our economy and I just don't see any benefits abolishing it. Politicians may have a case, if such an important institution starts transformin by serving its own needs while disregarding the impact its decisions have n society...then yes, its existence should be put in question.... however, right now don't see any benefits in abolishing it from an economics perspective.
__________________
ron
|