Shows how the Austrian narrative is wrong and also that Friedman overstated his case regarding the Fed causing the Great Depression. Even brings in Krugman to bolster his position. Oh my.
Read it at The New York Times | Economix
What Rule Should the Fed Follow?
By Bruce Bartlett
(h/t Mark Thoma)
Bruce Bartlett held senior policy roles in the Reagan and George H.W. Bush administrations and served on the staffs of Representatives Jack Kemp and Ron Paul.