what does that mean?



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送交者: skipper3 于 2005-3-17, 11:44:12:

回答: The whole point of Greenspan's position is to 由 HunHunSheng 于 2005-3-17, 10:34:32:

If you are saying making policy decisions should involve elected representatives but execution should be left to experts you are not right in this case. National cconomic policy is made up with fiscal policy and monetary policy. They are equally important, to certain degree monetary policy affects more to people's day to day life: do you really care how much deficit the government is having in fact does deficit really matter? on the other hand, change of interest rate has immediate effect to your cost of living and often to the value of your assets.

WHile in US fiscal policy has to be approved by legislatures, monetary policy is pretty much made by a small group of people in the federal reserve without public consultation. Why do citizens have to trust these people? Why not leave decisions regarding interest rates and how much money needs to printed etc to the congress and to the senate? After all, rate is the price of capital and capital is commodity. If people are OK with bureaucrats grossly interfering teh market by DICTATING the price, why not let them go further to dictate what you have to pay for your food, utilities, you cars your television your vacation...?



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