Following the announcement, Professor John Hassler, Prize Committee member for Economic Sciences, was interviewed about the 2011 Prize in Economic Sciences awarded to Thomas J. Sargent and Christopher A. Sims "for their empirical research on cause and effect in the macroeconomy". Learn more about the 2011 Prize in Economics: http://www.nobelprize.org/nobel_prizes/economics/laureates/2011/press.html
@BigTex1454 Indeed. Market forces tend to be right
diogotomediogo 3 weeks ago
Central banks do 2 things primarily. They reduce/raise interest rates and expand the money supply.
Both actions either cause inflation or malinvestment. Sometimes both.
A central bank with all of the tools at their disposal cannot effectively and efficiently run an economy.
A few key people guessing what the interest rate should be, when market forces are indicating otherwise, is a foolish endeavor.
A central bank leads to central planning, which inevitably leads to Fascism
BigTex1454 4 months ago 2