#39 Elements of Economics

In this installment of The Beacon Podcast, we discuss some of the elements of the economic structure in America today. We break down the law of supply and demand and how it affects interest rates when applied to money. We talk about how money is created, who creates it, and its journey through the economy before it gets reabsorbed through taxation and how all this plays into fiscal policy, the federal budget, and the Federal Reserve's role in dictating monetary policy.