Jun 17, 2012
A century ago populist leaders like William Jennings Bryan denounced the hard-money advocates of the era as wanting to “crucify mankind upon a cross of gold.” But modern-day populists are largely out to lunch, downplaying the importance of monetary policy in economic health. Krugman, normally the least polite man in punditry, confessed to going soft on Bernanke because he knows him personally from the Princeton economics department. Payne briefly raised my hopes by reading aloud the phone number of the Federal Reserve’s public affairs department in Washington, urging the audience to call in. What she wanted people to complain about, however, wasn’t mass unemployment: It was the fact that Dimon is on the New York Fed board.—Yglesias on Netroots Nation (via yfiles)
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A quoteblog by Aaron Swartz.
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