Selgin on Bernanke

Some of you have probably already seen Roger Lowenstein’s overly laudatory, but still useful and interesting, article on Ben Bernanke in the March 2012 Atlantic. As a good antidote, you should check out George Selgin’s thorough and informed critique of Bernanke’s first of four lectures on the Federal Reserve. Bernake seemingly unreflectively repeats many gross myths about the history of banking. Although these myths are widely believed by mainstream economists who who are abysmally ignorant of history, Bernanke has specialized in monetary history and should really know better.

Jeffrey Rogers Hummel

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