Now, in no country is it possible to transfer from one hand to another more products than there are.” - Frederic Bastiat, What Is Seen and What Is Not Seen , pamphlet, 1850 “Whatever is wrong with the economy today – and opinions vary widely – many economists agree that it’s not a problem monetary policy can fix.” - Dee Gill | Have central bankers lost their power? , Chicago Booth Review “Mistakes... cannot be avoided in a system which disperses responsibility yet gives a few men great power, and which thereby make important policy actions highly dependent on accidents of personality. This is the key technical argument against an ‘independent’ bank. To paraphrase Clemenceau, money is much too serious a matter to be left to the Central Bankers.” - Milton Friedman, Capitalism and Freedom , 1962
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American Consequences | 59
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