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Tag Archives: Paul Diamond
Politics beat quality any day: Diamond calls it quits
Politics are powerful. Much more powerful than scientific arguments. This is probably a well-known dictum, and I am certain that I could find some cool references to great thinkers who have said something like this in the past. I have refrained from doing so, as I just wanted to put this recent example within economics on record: In the US, members of the board of governors for the Federal Reserve are appointed through a long-winded political process. The fact that elected politicians should have a saying in the nomination of members who will shape monetary policy is sensible from a democratic point of view. I will not dispute that. However, … Continue reading
Posted in Economists, Monetary policy
Tagged Central bank governance, Central bank independence, Paul Diamond
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