New Economic Donald Byrne's New Term Paper

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" (Byrne, 2003) Also, since the dominant form of real money in the economy consists of checkable deposits, it means that the private sector creates most of the money for the legitimate part of the economy, not the federal government. The increased private sector competition in recent years, intensified by the increase in international commerce and market fluidity, born of improved technology through which private shares can be traded has further made the Fed less relevant, according to Byrne.

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This is not necessarily a bad thing, since Byrne blames a more powerful FED for what he calls the "engineered recession of 1980-82."(Byrne, Aug 2003)

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"New Economic Donald Byrne's New" (2006, November 22) Retrieved June 6, 2026, from
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