![]() ![]() ![]() “Every man should have a built-in automatic crap detector operating inside him. _ But what if your detector is defective? Silber, Volcker The Triumph of Persistence, New York: Bloomsbury Press, 2012, pp. He taught us that too much money created inflation.” At Princeton they taught the famous quantity theory of money as though they heard it directly from David Hume in 1750….Friedrich Lutz was about forty at the time, but from the perspective of an eighteen-year-old, he might as well have been two hundred and forty. “I don’t think I heard the name of John Maynard Keynes until I got to Harvard. ![]() Incidentally, for a couple of the courses Economics in the Rear-view Mirror already provides copies of the course outlines, reading lists, and final exams (see below for links). Two Volcker quotes from the book have been added to show the power of academic scribblers from a few years back (and not necessarily in a good way) to provoke frenzy in the minds of those in authority. ![]() course transcript that I have transcribed into a digital artifact for this post. Silver (Volcker The Triumph of Persistence, New York: Bloomsbury Press, 2012), included an image of a hand-written copy of Paul Volcker’s Harvard University A.M. īut seriously now, Paul Volcker’s biographer, William L. Paul Volcker’s entry into Economics in the Rear-view Mirror was celebrated as the 45th member of the tongue-in-cheek page “Economists Wearing Bowties”. ![]()
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