Stepping on one of my co-bloggers’ toes (that is, I am stepping on his toes, and he is one of my co-bloggers, not that I am stepping on only one of his toes).
Let’s try that again.
I’m sure Eric will comment about this at some point, but I thought I would note that Ben Bernanke, or Professor Bernanke to you students, spoke on the gold standard in his class at George Washington University the other day:
Mr. Bernanke spoke Tuesday about the history of monetary policy in the United States, including the Fed’s creation in 1913, and its role in causing the Great Depression. He framed much of this history as a critique of the gold standard, which was dropped in the early 1930s in a decision that mainstream economists regard as obviously correct, hugely beneficial and essentially irreversible.
The students in the class did not, perhaps, cover themselves in glory commenting to the Times: “‘It always surprises you to realize that this guy actually exists and he’s not just on TV,’ said Max Sanders, a 19-year-old from New York.”
On the other hand, having been quoted once in a newspaper comparing 9/11 to the American Sepoy Mutiny of 1857, I should probably not be too sarcastic about poor Max.
Ron Paul could not be reached for comment.