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April 27, 2005
Bernanke a libertarian?
Today’s Wall St. Journal (hat tip: Mahalanobis), in a head-to-head comparison among the three purported leading candidates to succeed Alan Greenspan as Fed chairman (Martin Feldstein, Glenn Hubbard, and Ben Bernanke), says the following about Bernanke: He may need to pay more political dues before getting a shot at the chairmanship. Though a libertarian Republican, he displays few partisan leanings. “Displays few partisan leanings” is certainly true – so true that I’m not aware of any expression by Bernanke of libertarian (or even Republican) views. Can anyone direct me to one? I have enabled comments. Posted by Lawrence H. White at 06:34 PM in Economics
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I have followed Bernake's tenure on the Fed a bit (if only because the daughter of one my colleagues knows him very well), and I have never detected even the slightest hint that he's muvh of a Republican much less libertarian. This is not to say that he's not either of these things, but if so, he's been pretty private about it. Posted by: Bob L at April 27, 2005 07:10 PMFrom Wikipedia article on Monetarism: Ben Bernanke, Princeton Economics professor and Federal Reserve governor has argued that monetarism could respond to zero interest rate conditions by direct expansion of the money supply. In his words "We have the keys to the printing press, and we are not afraid to use them." Doesn't sound overly libertarian to me. Posted by: Sean at April 27, 2005 08:50 PMI teach out of his principles textbook (co-authored by Robert Frank) and his political views are not detectable. Posted by: scott cunningham at April 28, 2005 12:01 AM |
The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith
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