Word: friedmanly
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...Staff writer Anna M. Friedman can be reached at amfriedm@fas.harvard.edu...
...fortunate to get reelected,” he says. “Somewhere down the road I may run for something else, but I want to continue to make government effective and make a difference.” —Staff writer Anna M. Friedman can be reached at amfriedm@fas.harvard.edu...
...economy was threatened with deflation (generally falling prices) a few years ago, "he among all the Fed governors was most vocal about the need to generate inflation," says Alan Wild, a global fixed-income manager for Barings Bank. In November 2002, Bernanke publicly spoke of options, citing Milton Friedman's famous "helicopter drop" of money into the pockets of consumers via tax rebates to stimulate spending, which was radical stuff from a central banker. Some are now worried that Bernanke would overcorrect his reputation, raising rates too far to prove his credibility on the inflation-fighting front...
...helped shape his view that individuals acting in self-interest make for fair and honest markets. Although Bernanke wrote an unpublished novel in his younger days, his reading list swings to the pragmatic. He spent a recent vacation with a book about astronomy and has read volumes about Milton Friedman, whom he regards as the 20th century's greatest economist for his arguments on the power of free markets...
...That's the question Na?m, the editor of Foreign Policy magazine, takes up in this valiant attempt to organize into a coherent picture the kaleidoscopic shards of information on underground trading, from music piracy to nuclear smuggling. The result is like a photo negative of Thomas Friedman's books (most recently, this year's The Earth is Flat) focusing on the happier aspects of globalization. The usual suspects are back in the spotlight: expanding free markets, the Internet, and the geopolitical fragmentation that followed the end of the Cold War. But in Na?m's version of the story, these changes...