May

28

 Is the Federal Reserve part of some sort of conspiracy, such as a "New World Order"?

Complete trust in the Federal Reserve and other institutions can be hard to come by these days in light of conspiracy theories. Polls have shown that a majority of Americans believe in at least one conspiracy theory. Further, similar to the open-minded views of some other professional philosophers such as Lee Basham, David Coady, and Charles Pigden, Matthew R. X. Dentith has noted that a conspiracy theory upon examination can, though not necessarily, be rational.

Although I admit I was once open to the possibility, I do not seriously entertain the possibility that the Federal Reserve is involved in some sort of conspiracy. Rather, I do entertain some "deep thoughts" on objective reality in a philosophical sense. In this regard, in my post on this website entitled "Where Does Interest Come From?," and dated May 20, 2016, I addressed the issue, some might argue conspiracy, regarding the source of macroeconomic interest. In that post, summarizing another online post of mine, I said that "I question objective reality in a manner similar to anti-realism due to the fact that economists still have not settled the issue of where money for macroeconomic interest (and profits) comes from."

May

20

I have the following comment on your post entitled "Where Does Interest Come From?" dated June 1, 2010, and posted at [http://www.dailyspeculations.com/wordpress/?p=4824 ]:

The issue regarding the source of macroeconomic interest (and profits) appears to be unsettled among economists. A free paper on this issue, entitled “What is the Source of Profit and Interest? A Classical Conundrum Reconsidered,” by Gunnar Tomasson and Dirk J. Bezemer, dated January 29, 2010, and posted March 11, 2010, can be found online at https://mpra.ub.uni-muenchen.de/21292/ . Personally, although I have not exhaustively researched this issue or economists’ attempts to address it, of the explanations I have studied, I believe that the monetary-circuit approach of Professor Louis-Philippe Rochon most plausibly resolves the conundrum by considering that, in firms’ investment cycles, a cash outflow required for the purchase of capital goods and financed by long-term bank loans occurs in the first period of production in the investment cycle while long-term bank loans may be paid back over multiple periods of production until the end of the investment cycle.

For a “philosophical take” on this issue, please see my topic entitled “Anti-Realism and Macroeconomic Profits/Interest,” posted April 8, 2016, on the “Philosophy Now” website, https://philosophynow.org/ . The topic can be found under the “General Philosophical Discussion” in the “Philosophy Now” Forum on that website. In the topic, I question objective reality in a manner similar to anti-realism due to the fact that economists still have not settled the issue of where money for macroeconomic interest (and profits) comes from.

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