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by Geee
601 days ago
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Yeah, it's related in that way. Fed or other central banks setting / controlling interest rates is definitely price control (interest is the price of money), and it is a form of central planning, or central intervention which makes price signals less pure. I think it's "too soon" to say that Keynes was right. Afaik, Hayek predicted the Great Depression based on the Austrian business cycle theory. I think that ABCT is mostly right, but it's probably imperfect. There's so much going on in the real world that it's almost impossible to say whether a policy or a theory or whatever actually caused something or didn't cause, and what would have happened otherwise. |
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