Ben Bernanke, chairman of the Federal Reserve, is a better historian of economic thought than monetary theorist. In reference to the current financial turmoil he is quoted as saying that classic central-banking theory instructs us that the Fed should accommodate … Continue reading
Election years are the times that try economists’ souls. Practically everyone with his hat in the ring will promise us this and promise us that and promise us everything under the sun, more often than not implying that, by the … Continue reading
Sousa’s “Stars and Stripes Forever” is as commonplace to the Fourth of July as is hearing news about a symphony orchestra that is on the brink of bankruptcy or another museum having to cut its staff. To rally support for … Continue reading
