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November 17, 2006

Bernanke to Friedman

Bryan Caplan

Here's what my teacher Ben Bernanke told Milton Friedman on his 90th birthday:

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.

Don't let Milton down, Ben!


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CATEGORIES: Macroeconomics (94)


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Kent Gatewood writes:

So it was the Fed and not Smoot-Hawley?

Posted November 18, 2006 10:21 AM
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The author at De Gustibus Non Est Disputandum in a related article titled "Bernanke," writes:
    No CATO, Bernanke é citado pela jornalista como reconhecendo que Friedman estava certo sobre a Grande Depressão. Na verdade, Friedman reconheceu a importância da política monetária do FED no episódio. A tese é antiga, mas ficou conhecida - digo,...... [Read more]
Posted November 19, 2006 07:28 PM

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