pelham 707

The conclusion i made after reading this really well written book is even the fed can't help themselves. The fed had never been able to prevent themselves from being impacted by political climates, public sentiments and it never will be unless it is operated by non emotional AI. The funny thing is that politics in economy has been long divided and argued; neo-liberalism vs Keynesian, but they don't have to fight anymore because the fed is going for all of them, pleasing both sides.

lefties: gov't can do better. righties: market can do better itself. sometimes, lefties are right. sometimes, righties are right. there's no definite answer to which one is more predominant, cause the social headlines and climate of economy keep varying over long period of time, telling each ideology needs to step up in turn in varied circumstances. so, there's no waste of time more than arguing between keynesian and neo-liberalism. and it's not even strange or something wrong that each idealogy takes powers in turn. that's just the way it is unless either communism or fascism has a room for intervention or you can control accident, luck, fluke or whatever. the problem is rather decide a level of gov't intervention and when. the author seems to be looking for the ultimate theory for the utopia, but we all know there's no such thing like it. there's only 'one small step forward for continuous progress'. the rise of trump in modern days could be just a signal that more careful treatment is needed for lower middle class workers. so, don't worry too much. humanity will figure it out someway somehow.