Friday, September 11, 2009

David Henderson on how the Fed is able to influence economists in its own interests


I had read an article (before last week's birth in my household, don't have the time to find it and link) that talked about how the Fed was never blamed during an economic crisis because it was in conversation with the elite economists of the day, and contributed to their status, so only several decades of hindsight could properly attribute the Fed's role in muting or exacerbating crises.

Let's add 'public choice theory' to 'death' and 'taxes', why don't we.

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