U.S. Economy Suffering Federal Reserve's Fatal Conceit

Washington Keeps Falling Victim to the ‘Fatal Conceit’

The phrase “central planning”—in the context of economic policy—might bring to mind a massive and complex bureaucratic machine, one whirring with the ambitions of apparatchiks armed with clipboards and five-year plans. Soviet planners decreed how many Lada automobiles should be produced and how much wheat Ukraine should yield, blissfully ignorant of actual demand. This doomed exercise in economic fortune-telling predictably spawned queues, short…

U.S. Economy Suffering Federal Reserve's Fatal Conceit

Steve Forbes, What's Ahead Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.