If the Fed were eliminated, the exact same powerful capitalist interests would be continue to bend government policy to their preferred outcome and would continue to exercise the same dominance over government, social institutions and the mass media. The only difference would be that the economy would become more unstable than it already is because there would be less ability on the part of government to dampen excesses. Why would that be good?
Experience first-hand the change sweeping through Latin America in the areas of food sovereignty, indigenous resistance, climate justice, and human rights through a trip to Bolivia or Venezuela this summer.
"There is no society. There are only individual men and women," said the Iron Lady, Margaret Thatcher. Margaret Thatcher, former British Prime Minister, had a great share in that crisis in which Europe, capitalism and democracy find themselves. Democracy conforming to the market is the problem. The market conforming to democracy is the solution.