From: Michael Perelman (michael@ECST.CSUCHICO.EDU)
Date: Tue Nov 16 2004 - 14:14:06 EST
Where can I read more about this? On Tue, Nov 16, 2004 at 10:59:18AM -0800, Rakesh Bhandari wrote: > Just to clarify why I sent summaries of Baker's ideas from 1987, > though their relevance should be obvious. > > In 1987, Reagan seemed ready to reappoint Paul Volcker as Fed > Chairman, when Treasury Secretary James Baker convinced him to give > the job instead to Greenspan. Baker gloated ''We got the son of a > bitch'' after maneuvering Paul Volcker out of the Fed. > > Greenspan was chosen--I am arguing--to run monetary policy in > accordance with what can be called Baker's modified gold standard. > > Rakesh -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu
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