eflatminor
Classical Liberal
- May 24, 2011
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Just to clarify, you equate a central bank with central planning?
What would you call central price controls? The Fed controls, centrally, the price of money. That is central planning. Note I've not claimed they control EVERYTHING (thank goodness), but yes, it is an example of central planning.
You claim to have studied Mises. You should know this.
You dodged the question. Does the existence of a central bank mean to you that the economy is centrally planned?
No. It means the market for the price of money is centrally planned.
Do you support any other central price controls? Cars? Computers? How about milk?
And yes, I've read Mises. I'm pretty well read in history of economic thought. If you want to debate Mises' "The Theory of Money and Credit" (1912), you have some heavy lifting to do.
If read it, along with many other works by the man, but let's stick to the topic at hand.
I advocate a sound money policy and allowing the market to determine interest rates. Simple as that. I've made clear why I feel this way.