EC 390: Macroeconomic Policy and Politics Instructor: Peter Taylor Block 6, 2006 |
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Edward Lazear Chairman Nominee President's Council of Economic Advisers |
Ben Bernanke Chairman Federal Reserve Board |
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This currency, as we manage it, is a wonderful machine. It performs
its office when we issue it; it pays and clothes troops, and provides
victuals and ammunition; and when we are obliged to issue a quantity
excessive, it pays itself off by depreciation. Is Ben promoting an "Inflation Tax" ? |
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