From the
Economic Policy Journal;
Thank you very much for inviting me to speak here at the New York Federal Reserve Bank.
Intellectual discourse is, of course, extraordinarily valuable in
reaching truth. In this sense, I welcome the opportunity to discuss my
views on the economy and monetary policy and how they may differ with
those of you here at the Fed.
That said, I suspect my views are so different from those of
you here today that my comments will be a complete failure in convincing
you to do what I believe should be done, which is to close down the
entire Federal Reserve System
My views, I suspect, differ from beginning to end.
From the proper methodology to be used in the science of economics, to
the manner in which the macro-economy functions, to the role of the
Federal Reserve, and to the accomplishments of the Federal Reserve, I
stand here confused as to how you see the world so differently than I
do.
I simply do not understand most of the thinking that goes on
here at the Fed and I do not understand how this thinking can go on when
in my view it smacks up against reality.
