The establishment economists, of which Allan Meltzer is a part, have moved away from technology and real productivity addressing real needs of people to a money construct where money is nothing more than paper ... or worse, a pattern of electronic bits! The experts in the financial sector are stuck in a paradigm that cannot work. Time for a value based change.

April 7 (Bloomberg) -- Allan Meltzer, a professor at Carnegie Mellon University and a historian of the Federal Reserve, talks about distortions in U.S. consumer-price inflation measures and the central bank's challenges and shortcomings. He talks with Matt Miller and Carol Massar on Bloomberg Television's 'Street Smart.' (Source: Bloomberg)