Freeman

IN BRIEF

Bernanke Says Low Interest Rates to Continue

MARCH 01, 2012

“Federal Reserve Chairman Ben S. Bernanke said elevated unemployment and subdued inflation mean interest rates are likely to stay low, without offering any sign that the economy needs an additional monetary boost.” (Bloomberg News)

Artificially low interest rates have high future costs.

FEE Timely Classic
“How Government Distorts Labor Markets” by Robert P. Murphy

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Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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