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Politics : Foreign Affairs Discussion Group

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To: Ilaine who wrote (43107)	9/10/2002 9:06:36 PM
From: maceng2	Read Replies (1) of 281500

Famous economists who adhere to this theory included Hayek and Keynes Well, Keynes is a most notable authority I need to check carefully on. Thanks for the links btw. This is indeed a subject I seek to improve my knowledge on. My criticism on the death of Benjamin Strong and Milton Friedmens comment. He is probably right. If Benjamin Strong had survived another year or two the Great Depression may have been avoided. He understood clearly the role of the Federal Reserve (as does Friedman) It's just that a whole economy like the USA cannot be subject to the control of just one guy. This is what democracy is all about. It's supposed to be a team effort. A final note. Read this link, I don't know if it's true or not. I just found it so funny. A British bank official was so frightened of the commies taking over. That why Keynes won... In 1927 Norman secretly came to Strong with a problem. While he could instantly flood the underground vaults of the Bank of England by pressing a button on his desk in the event of an attempted theft, he could not stop the Bank of England's gold reserves from being whittled away by a high American dollar and interest rates. converge.org.nz -lol-

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