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The Welfare State Prolongs Recessions |
Patrick Barron |
Far from being an “automatic stabilizer” that mitigates recessions by engaging in “countercyclical” spending, the welfare state actually makes recessions longer and deeper. Time to acknowledge that fact and do away with it altogether. |
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The Swiss National Bank vs. the Federal Reserve: The Fed's Capital Losses in Perspective |
Alex J. Pollock |
Do you like your central bank capital positive or negative? The Fed is bankrupt, but even after taking recent losses, the Swiss National Bank still has positive capital. |
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