Jan 26, 2010

Yo lo voto

CBP sobre el papel de los bancos centrales:

Just to be clear, as a supply-sider I think inflation should be as close to zero and as stable as possible. One way to do that, I believe, would be to return the U.S. to a gold standard or something similar that ties the dollar's value to an objective, physical standard. Central banking should not rest on the discretion or the judgment of a small group of (fallible) Wise Old Men, it should be about keeping the purchasing power of the dollar stable and predictable no matter what. The central banker of my dreams would be a person who firmly believed that the measure of his or her success would be directly proportional to how low and stable inflation proved to be, and inversely proportional to how much he or she had to work.

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