The Faults of Interventionism

The output volatility after the fed is, to a much greater extent, the fault of the monetary system. Richard timberlake is a well known economist and historian of american monetary and banking history. He says that most of the monetary turbulence, bank panics and suspensions in the nineteenth century resulted from excessive issues of legal tender paper money. So that's about the opposite of what we're told. In a nutshell, this is just another example of the faults of interventionism being blamed on the free market.