Scott Sumner ahs not really seen this so far.
Archive for June 6th, 2012
Another interview of Paul Krugman.
Many of these interviews are coming as he promotes his book – End this Depression now:
A nice paper by Michael Bordo. There are very few who can do more justice to such papers than Bordo.
He looks at history of Fed from two counterfactuals:
- First what if Second Bank of US had survived and continued as a central bank?
- Second, what if the current Fed was modeled on the original plan laid in 1910 by Warbug?
In both the cases, US would have been better off. Of course, if first continued case for second would not have been there.