Free market economists are not going to be happy about this... A major financial news source just published shocking details about a research report by two employees at the Federal Reserve Bank. The 36-page report applauds the use of “capital controls” in global markets. If you’re unfamiliar with the term “capital controls,” it’s probably because we tend to avoid them in the United States in favor of a free market economy. Capital controls are simply laws that regulate and restrict what you are allowed to do with your money by regulating the flow of cash in and out of a national economy. The laws define such things as where you can invest your cash and how you can allocate your assets. If you take a look around the globe, you’ll see several recent example—almost always from countries experiencing a currency crisis:
Posted on: Wed, 26 Mar 2014 23:27:26 +0000
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