Expert On the Great Depression?
"One of the reasons I am partial to Australians is that they are critical thinkers, not easily cowed by authority or conventional wisdom.
In the US, one of the reasons that Fed chair Ben Bernanke is given so much deference (aside from the fact that we treat people in positions of power with kid gloves) is that he is regarded as an expert on the Great Depression, and has also studied Japan's Lost Decade.
Steve Keen, author of Debunking Economics and professor at the University of Western Sydney, has taken a look at some of Bernanke's writings on the Great Depression and finds them wanting, Serious wanting. I've read some of Bernanke's work on Jaoan, and quite a few of his speeches, and was bothered by some of the assumptions and omissions. Keen tears into Bernanke with a gusto that I find refreshing.
This is a long excerpt from a much longer and worthwhile post (hat tip reader Tom):"
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read the rest of this amazing article here:
http://www.nakedcapitalism.com/2009/...epression.html
