Monthly Archives: January 2013

Monetary Alchemy, Fiscal Science

The year 2013 marks the 100th anniversaries of two separate major institutional innovations in American economic policy:  the Constitutional Amendment enacting the federal income tax, ratified on February 3, 1913, and the law establishing the Federal Reserve, passed in December 1913. … Continue reading

Posted in Budget, Fiscal Stimulus, Monetary Policy, Recession | Tagged , , , | Leave a comment