About this videoIn this conference, Richard Ebeling, PhD, describes how monetary policy is still hunted by the ghost of the Great Depression. He explains the meaning of deflation and its negative effects in economy, and identifies three causal factors of this economic problem: Supply side deflation, price wage rigidity deflation and monetary deflation. Dr. Ebeling comments on scarcity, what it means to society, and also mentions other social troubles such as goods oversupply, prices getting too high and people asking for major wages. He mentions that the hubris of central bankers can be seen in their failure to realize that it has been their own monetary policies which have created economic problems, and finally, he explains that the appeal of social engineering remains too strong. |
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CreditsThe Hubris of the Central Banker: Depression, Deflation and the Current Economic Crisis
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