Shorter Richard Fisher, using the phrase Chernyshevsky is reputed to have come up with: “the worse the better.” The worse it gets for people, the better the opportunities for our ideology to be put into action. I never thought I’d have to go digging into the immediate influences of Vladimir Ilyich Lenin to get a handle on how “independent” monetary policy works in the 21st century, but here we are.(via DeLong twitterstorm)
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