19.10.05

E eu a pensar que a Escola Austríaca não existia...

Be completely politically independent. That's not to say he couldn't belong to one party or another, but this person should not be a politician of any sort. The more independent, the better.

Show a firm grasp of the ramifications of asset bubbles.

Possess a demonstrable understanding of financial history.

Have a record of advocating sound policies for the long term vs. ones that are convenient for now.

Be well-versed in the so-called Austrian School of Economics.

This last requirement refers to a school of economic thought championed by, among others, Nobel laureate Friedrich von Hayek. The Austrians deny that a central bank, such as the Fed, can work economic miracles by juggling interest rates. In effect, the Austrians hold, interest rates are the traffic signals of a market economy. Turn them all green, and what you get are lots of pileups.


(via Blog da Causa Liberal)