Q&A: Pragmatic Capitalism

21st August 2012

prag cap

An alternative take on how Wall Street, the monetary system and the economy actually works. Roche writes: "We hope this website becomes a resource for educating the public on the operational realities of the monetary system and we hope that this will help create a more informed public ultimately leading to a better and more prosperous environment for all of us." Roche also writes: "I fear most Austrian [economists] cannot overcome the political biases that lead them to conclude that government is always bad and therefore, that state-issued fiat money is always bad. And in doing so they misinterpret the nature of society, the role of government in society and the “money” that governments create."

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What inspired you to first start blogging?

I started writing during the financial crisis when my clients increasingly urged me to try to reach a more mainstream audience.  I had predicted the housing bubble and the lack of a government response in halting the slide (and preventing the boom) and I felt that we were entering a scenario very similar to what Japan faced in the 90's so I felt the need to begin writing more publicly about what I believed was going on and why I felt the misunderstandings of the monetary system and the investment world were leading to so much misguided policy response, economic pain and investment losses.

 

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