Lynne Kiesling
Congratulations to the Northwestern University Fed Challenge team, who have won this year’s Fed Challenge competition! One of team members, Derek Moeller, was also a student in my Environmental Economics class this quarter.
Congrats!
3 thoughts on “Northwestern Wins Fed Challenge”
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There must be a direct correlation between your class and winning the fed challenge. Maybe I should have taken that one.
Hi Professor Kiesling,
Thank you for the note. See you next quarter in 318!
Derek
To the students who won the Fed Challenge Competition: admittedly, you guys and gals are much brighter than I am, being graduate students in economics, so my questions and assertions may appear very naive to you. I will proceed nonetheless.
I am having trouble reconciling my understanding of the purpose of government—which ala Bastiat is the protection of the individual from aggression in the form of physical violence, theft, fraud, and breach of contract—with the very existence of the Federal Reserve System itself, which gives private banks the right to create a stream of income in the form of usury on loans pyramided on top of “reserves”, which are in turn created by the Federal Reserve out of nothing, and created primarily to bail the Federal Government out of the mess it gets itself into through its habitual practice of deficit spending. This present system ensures an indentured state of living for most Americans, who labor under the economic pressure of making ever higher payments and further debt assumption in order to generate the money to pay the usury.
My question is this: Do you think that the experience of the last 91 years of the Federal Government’s and private banking’s involvement in the creation of money has resulted overall in a currency of stable or even increasing purchasing power?
If your answer is yes, then proceed no further.
If your answer is no, then why do you participate in these charades of contests held by the Fed? And why as future leaders in the field of economic thinking, aren’t you challenging this collusion between politicians and bankers, and thereby truly supporting the operation of free markets?