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Interest Rates Must Remain Disinterested: The Growing Threat to Central Bank Independence and Why It Must Be Preserved
12.17.19
Of the many possible sites for a heated political showdown, the target federal funds rate hardly registers on the front lines. Yet in December 2018, US President Donald Trump took to Twitter to decry the US Federal Reserve’s decision to raise its benchmark rate. Breaking more than two decades of White House silence on monetary […]
The Low U.S. Unemployment Rate Should Not Be Celebrated
08.7.17
In 1867, Karl Marx famously declared, “It is the absolute interest of every capitalist to press a given quantity of labor out of a smaller, rather than a greater number of laborers, if the cost is about the same.” Since then, the phenomenon of the “reserve army of labor,” or the existence of structural unemployment […]
Education, Training and Labor