Wages and Panic Buttons (http://www.nytimes.com/yr/mo/day/oped/03tyso.html) (fwd)

Max Sawicky sawicky at epinet.org
Tue Aug 3 14:34:46 PDT 1999


That's a little unfair. It's not so unusual for a Democrat hack economist to gently urge caution on Greenspan in the NY Times, it there?


Tyson said all the right things. But this sort of hand-wringing has been going on for the past 20 years, at least, and indulged in by both Democrats and Republicans. We should not be impressed by it anymore.

The fundamental problem is that the Fed is allowed to make decisions contrary to the public interest. A change in governance is required. But you'd have to look far to find an economist willing to criticize the idea of a so-called "independent" Fed.


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