Hayek, Friedman, and Keynes – Three Approaches to the Fed

If you are like me, sometimes you need to sharpen your understanding of ideas.  Over time, we forget the details.

This morning I was lucky enough to run across Lawrence H. White‘s working paper called “The Great Inflation and Monetarism”.  What a nice read.  In the paper he talks about the Federal Reserve Bank and how the ideas evolved on how the United States works with her money system.  It gives the tug and pull of the dominate ideas.  It shows how they differ in their approaches.

A few years ago, when the market was tumbling and the government was bailing out everyone, I was seeking information that dealt with an expanding money system like every person working in the financial services industry.  There was nothing truly beneficial being released.  That changed when I found White’s work.  I had met White a number of years ago when he was the featured speaker at a think tank.




About Christopher Hessenflow

Christopher Hessenflow is a financial planner in the Chicago area. He works with all sorts of people who are much more interesting than he is. He enjoys his career which lends him time to think and, sometimes, be creative. Chip was born bald.
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