Fri 2008-12-12 00:00 EST

Jesse's Café Américain: Money Supply, Paul Krugman, and the Great Depression

Jesse's Café Américain: Money Supply, Paul Krugman, and the Great Depression; ``Fed made a significant policy error in raising the discount rate in early 1931''; ``we can imagine an outcome in which misbegotten monetary policy results in an oligopoly of corporate interests and an economy that is permanently frozen in a series of de facto monopolies based on central planning, not all that dissimilar to the experience of the Soviet Union prior to its dissolution and some countries in which a hundred or so powerful families control the government and its economy in a state of permanent corruption and malaise.''

Great Depression; Jesse's Café Américain; money supply; Paul Krugman.