Eurasia Review on Nostr: The ‘Price Stability’ Myth Undermines Our Economy And Well-Being – Analysis ...
The ‘Price Stability’ Myth Undermines Our Economy And Well-Being – Analysis
==========
Frank Shostak argues that the concept of 'price stability' is a myth that undermines economic well-being; many economists believe stable prices are crucial for economic stability; the Federal Reserve aims for a 2% yearly growth rate in prices; the assumption of money neutrality is flawed, as changes in money supply affect relative prices; inflation redistributes wealth from late recipients of money to early recipients; the idea of a general 'price level' is conceptually problematic; Shostak advocates for free price fluctuations and sound money instead of central bank interference; the Mises Institute, founded in 1982, promotes Austrian economics.
#Economics #MonetaryPolicy #PriceStability #Inflation #AustrianEconomics #FederalReserve #WealthRedistribution #EconomicTheory #FrankShostak #MisesInstitute
https://www.eurasiareview.com/03122024-the-price-stability-myth-undermines-our-economy-and-well-being-analysis/
==========
Frank Shostak argues that the concept of 'price stability' is a myth that undermines economic well-being; many economists believe stable prices are crucial for economic stability; the Federal Reserve aims for a 2% yearly growth rate in prices; the assumption of money neutrality is flawed, as changes in money supply affect relative prices; inflation redistributes wealth from late recipients of money to early recipients; the idea of a general 'price level' is conceptually problematic; Shostak advocates for free price fluctuations and sound money instead of central bank interference; the Mises Institute, founded in 1982, promotes Austrian economics.
#Economics #MonetaryPolicy #PriceStability #Inflation #AustrianEconomics #FederalReserve #WealthRedistribution #EconomicTheory #FrankShostak #MisesInstitute
https://www.eurasiareview.com/03122024-the-price-stability-myth-undermines-our-economy-and-well-being-analysis/