Cryptocurrencies have a glittering appeal for anyone looking to escape the control of central banks. Are they fool's gold?
Alex J. Pollock
By pushing more government-sponsored loans, Fannie and Freddie are feeding the already runaway house price inflation.
There is plenty of risk and uncertainty that might give rise to our next financial crisis.
Although they are monetary and economic experts, do central banks have the requisite knowledge to succeed?
Both banks and governments often make big mistakes at forecasting the economic and financial future.
There are no financial philosopher-kings and there can never be any, in central banks or anywhere else.
Alex Pollock discusses the philosophy of finance and why the quant guys keep getting it wrong.
Alex J. Pollock is a Senior Fellow at the Mises Institute, a former Principal Deputy Director of the Office of Financial Research of the U.S. Treasury, and the author of Finance and Philosophy: Why We're Always Surprised. He is co-author of the forthcoming Surprised Again!