Don't believe ... the widely reported loss of millions of manufacturing jobs since the Bush administration took office, ... All these alleged facts are either wrong or greatly exaggerated, based on the same faulty source.
More Quotes from Allan Meltzer:
They'll want to see him tested, ... Greenspan had, in a sense, the good fortune that there was a crisis (Black Monday, Oct. 19, when the Dow lost more than 20) within the two months of the time he acceded to the chairmanship, and he handled the crisis very well. That established him in the market as a credible chairman.Allan Meltzer
The borrowing paid for the imports that the United States bought from countries that were suffering from deep recessions and pulled them out of those recessions.
Allan Meltzer
The way to get higher growth is to have lower inflation. The success of the Fed and the Bank of England has done much to convince people that that's the way to go.
Allan Meltzer
There's more consensus . . . within the economics profession about how the world works than there was in the 1950s, '60s and '70s.
Allan Meltzer
The fact that you have only these minor criticisms is quite an achievement.
Allan Meltzer
His big failing is that he hasn't provided the Fed with a replicable method of re-creating Alan Greenspan. He hasn't left behind an institutional framework that will guide his successor.
Allan Meltzer
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