Quote of the Week

Perhaps Latin America would have done better in terms of economic stability had the printing press never crossed the Atlantic.

— Carmen M. Reinhart and Kenneth S. Rogoff, This Time is Different (Princeton: Princeton University Press, 2009), p. 259.

In my review of Joseph Stiglitz’ The Price of Inequality, I criticized the notion of a “democratically accountable” central bank. The context of the above excerpt is the same (not in direct reference to Stiglitz, mind you).

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