viernes, 31 de agosto de 2012

The negative unnatural rate of interest

Aca

"The word natural is always used to hide the constructed context in which an outcome occurs, to disguise human institutions as immutable facts and thereby exclude them from controversy."

...

"Ultimately, the words are meaningless. The level of interest rates that prevails in the market will be the result of a mix of institutional choices and economic circumstances."

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