The establishment and impact of central banks in federal and confederal political systems is evaluated. Favoring monetary policy acts to the detriment of regional diversity. Antiquated Wicksellian belief that interest rates equilibrate investments and savings damages citizens' security. Practical, democratic reforms to these problems are outlined.
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The establishment and impact of central banks in federal and confederal political systems is evaluated. Favoring monetary policy acts to the detriment of regional diversity. Antiquated Wicksellian belief that interest rates equilibrate investments and savings damages citizens' security. Practical, democratic reforms to these problems are outlined.
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