Let's say a working class' writer on economics like Jim D. or Doug H. were the Fed chair. Would it be possible to use whatever limited control of interest rates to keep unemployment down and inflation up in the interst (pun) of the many rather than for the few ? Would keeping inflation up be pro-masses in net effect or whole impact ? Or are both inflation and deflation harmful to the masses in general ? Are there people's interest rates, theoretically ?
Charles I wanted to add that from the Wall Street and banking perspective, all that matters (as far as Fed policy goes) is having low inflation. They don't care about unemployment. AG has delivered. On 2/8/06, Doug Henwood <[EMAIL PROTECTED]> wrote: > Charles Brown wrote: > > > From: Jim Devine > > > >I think that the dominant perspective is that the system has minor > >problems but that the Fed can fix those as they happen (if they're of a > >macroeconomic nature) and that AG has done a good job at that. > > > >^^^^^ > >CB; Is this perspective valid ? > > From the POV of the ruling class, yeah. Things have been pretty much going their way for almost 30 years. > > Doug >
