Chapter 12 - Post Only

Ryan McMaken criticizes Keynes’ theory with clear evidence and data. He states that ever since the central bank started (1913), the economy has significantly gotten worse. The FED was the one in control and watching during all these horrible economic times. These more recent economic events have been much worse than before the central bank, and the FED who originally hadn’t explained what they did much now all of the sudden has all these videos and explanations of who they are and how they “help economy”. In reality, the government just wants more power and authority over the people. Even the US law says that the goal of the interest rate should be zero percent, yet the FED continues to hold a goal of two percent interest rates. But why is this belief still unpopular? This is because Keynesians just say what people want to hear rather than what they need to hear. In addition, the government also wants to keep it this way, despite all the problems and downsides.