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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?


To: maceng2 who wrote (43027)9/10/2002 12:45:02 PM
From: maceng2  Read Replies (2) | Respond to of 281500
 
Milton Friedman view on Benjamin Strong..

"But the fact that that bad monetary policy was carried out was, in part, the result of a real accident, which was that the dominant figure in the Federal Reserve System, Benjamin Strong, who was Governor of the Federal Reserve Bank in New York, had died in 1928. It is my considered opinion that if he had lived two or three more years, you might very well not have had a Great Depression."

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