hattip – Jim Corr
One man’s view of The Fed, which agrees with the cartoon’s assessment –
Just like the Communists who could never figure out who was directing the industrial success of the United States, conventional analysts keep trying to identify the “directors” that make everything in the markets and the economy happen, but the only actual director is the behavioral dynamic that governs human interaction.
Every attempt at control, whether by communists, fascists, socialists or central bankers, can only misdirect energy and resources, thereby impeding the efficiency of the self-organizing process. So macroeconomic policies are not merely impotent, they are counterproductive.