quinta-feira, 9 de outubro de 2008

Histórias com piada II : A independência dos Bancos Centrais

LRCblog: "when the evil Arthur Burns arrived in Bonn, appointed by Nixon as ambassador to West Germany after his term at the Fed expired. A local reporter, at Burns's first press conference, asked him how in the world he could have engineered so much inflation, with such horrific consequences. Didn't he, as an economist, know better? Burns responded that the head of the Fed must do as the president wants, or otherwise the Fed "would lose its independence."

PS: Arthur Burns, who ... blocked Murray Rothbard's hard-money PhD at Columbia until Ike made Burns chairman of the council of economic advisors, also engineered Nixon's great inflation. After his term as Fed chairman, Burns was rewarded by Nixon with the ambassadorship to Germany.

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