What is Wrong with a Zero Interest Rate?

by Herman Daly The stock market took a dip, so the Fed will likely continue to keep the interest rate at zero, in conformity with its goal of supporting asset prices by quantitative easing. What is wrong with a zero interest rate? Doesn’t it boost investment, growth, and employment? There are many things wrong with […]

The Surprising Conclusion to an Important New Book

It’s rare to find a Wall Street Journal columnist (and a Ronald Reagan appointee) calling for a steady-state economy.