Alan's stock answers

[Seth Ackerman]

So what's Mayer's thesis? Which economists' writings encouraged the bad
policies? Which bad policies?

Seth

> Mayer, Thomas. 1999. Monetary Policy and the Great inflation in
> the United States: the Federal Reserve and the Failure of
> Macroeconomic policy, 1965-1979 (Cheltenham, UK: Edward Elgar).
> viii Preface: "When starting out I thought that I would land up
>         with a scathing criticism of the Federal Reserve.  But in
>         working my way through the material I began to understand why
>         the Fed did what it did, and that the blame for the mistaken
>         policies that it followed should be shared in large part by
>         the academic economists whose writings encouraged these
>         policies."
> 
> 
> --
> 
> Michael Perelman
> Economics Department
> California State University
> michael at ecst.csuchico.edu
> Chico, CA 95929
> 530-898-5321
> fax 530-898-5901
>