December 23, 2013, marks the 100th anniversary of the Federal Reserve. Has it achieved the purposes for which it was designed? For the banks, the Fed has served quite well. For the laboring masses whose populist movement prompted it, not much has changed in a century.
As neighboring Argentina brings its oil supply under state control, Bolivian President Evo Morales announced last week that his government has placed the country’s electricity sector under public ownership by seizing the main power grid from a Spanish company.