[OPE] The role of the individual in history: why did Frederic Mishkin quit the Fed?

From: Jurriaan Bendien (adsl675281@tiscali.nl)
Date: Mon Jun 30 2008 - 19:21:16 EDT

But isn't that girlish? How can anybody learn important things from that? Well, here in Holland the workers often say, "The managers come and go - the workers are left to pick up the pieces". The managers think it's just the other way round, of course. Traditionally, it is observed that in a definite downturn, labour-mobility (the total turnover) declines. However I forecast that in future we may see areas in which exceptions to this rule occur, as people simply migrate more to find work.

BTW I am not criticising Mr Mishkin as a person or as a scholar, I am not yet at that level, and he is who he is. I've got a couple of his books here to work through. But it is surely significant that he rather abruptly quits a longterm position with the Fed, and the press just did not explore that any further. Surely the citizens want to know who is coming or going in the Fed, and why that is, surely that matters to them. I am obviously not thinking of pornoing all the intimate details of his life, that's his business and not mine, but simply the policy ideas involved and the politics surrounding the event. The crazy thing is that many of these people cannot say the truth plainly, because it affects the markets, so then an outsider has to search for the truth.


Well we know, where we're goin'
But we don't know, where we've been
And we know, what we're knowin'
But we can't say, what we've seen
And we're not little children
And we know, what we want
And the future, is certain
Give us time to, work it out

- Talking Heads, "Road to Nowhere"

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