Gravity's Rainbow

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What’s more important, intention or result?

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“If we continue to talk about tight labor markets as if that is a truly evil phenomenon,” the New York Fed president brooded in a 2000 meeting transcript, “we are going to convince the American people that what we believe in is not price stability, which is for the good of everybody, but a differentiation in income distribution that goes against the working people.”

Ackerman & Beggs in Jacobin.

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