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Role of Central Banks’ “Free Money” Policy in Creating Financial Bubbles
In a “real” economy, whether capitalist or socialist, the role of a central bank is to stabilize national banks and reign them in. But under financial capitalism, the role of central banks is to provide financial capitalists with free money so financial capitalists can continue with their speculation. Jack Rasmus argues that from the United States, to Europe to Japan as these practices continue, the result will be a financial recession by late 2018.
Image from Terra Daily
About The Author
Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his four books:
From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning
Power in Eden: The Emergence of Gender Hierarchies in the Ancient World
Co-Authored with Christopher Chase-Dunn
Social Change: Globalization from the Stone Age to the Present and Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized
He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia WA.