by Skye Winspur I want to make the case that democratic socialists should care about interest rates set by central banks. While I do not worship capitalism, or trust the stock market at all, I do see the value to our society in having central banks. The US Federal Reserve was created, as almost all the US government’s “deep state” institutions have been – Social Security, the Federal Deposit Insurance Corporation, and Medicare are other examples – as a response to repeated failures of capitalism. Financial panics in 1857, 1873, 1893 and 1907 were distressing enough to the investor class, … Continue reading On Interest Rates and Central Banks