Libertarian Jackass

"Life is short, but truth works far and lives long; let us speak truth." -- Schopenhauer

Tuesday, September 20, 2005

MEMO TO TYLER COWEN: there's a huge difference between academic institutions and central banks. Namely, central banks create liabilities in order to accumulate reserves.

http://www.marginalrevolution.com/marginalrevolution/2005/09/my_view_of_the_.html

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