Flash: The Head of the Bank of England Confesses

“As I look back, it now seems that, with all the thought and work and good intentions, which we provided, we achieved absolutely nothing … nothing that I did, and very little that old Ben did, internationally produced any good effect — or indeed any effect at all except that we collected money from a lot of poor devils and gave it over to the four winds.”

Boyle, Andrew. 1967. Montagu Norman (London: Cassell): pp. 327-38.

4 comments so far

  1. mangy cat on

    but that ben was strong

  2. mperelman on

    Very good!

  3. […] seen the last part of the quote cited before as evidence against the ability of central bankers to effectively do anything at all. It […]

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