MARC details
| 000 -LEADER |
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| fixed length control field |
02504aam a2200181 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
191115b 2019 ||||| |||| 00| 0 eng d |
| 020 ## - INTERNATIONAL STANDARD BOOK NUMBER |
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| International Standard Book Number |
9781509879144 |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER |
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| Classification number |
330.9 |
| Item number |
A7E2 |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Appelbaum, Binyamin |
| 9 (RLIN) |
387961 |
| 245 ## - TITLE STATEMENT |
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| Title |
The economists' hour: how the false prophets of free markets fractured our society |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
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| Name of publisher, distributor, etc. |
Picador |
| Place of publication, distribution, etc. |
London |
| Date of publication, distribution, etc. |
2019 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
440 p. |
| Other physical details |
Includes Notes and index |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
In the early 1950s, a young economist named Paul Volcker worked as a human calculator in an office deep inside the Federal Reserve Bank of New York. He crunched numbers for the people who made decisions, and he told his wife that he saw little chance of ever moving up. The central bank’s leadership included bankers, lawyers, and an Iowa hog farmer, but not a single economist.The Fed’s chairman, William McChesney Martin, was a stockbroker with a low opinion of the species. “We have fifty econometricians working for us at the Fed,” he told a visitor. “They are all located in the basement of this building, and there is a reason why they are there.” They were in the building, he said, because they asked good questions. They were in the basement, he continued, because “they don’t know their own limitations, and they have a far greater sense of confidence in their analyses than I have found to be warranted.”<br/><br/>Martin’s distaste for economists was widely shared among the midcentury American elite. President Franklin Delano Roosevelt privately dismissed John Maynard Keynes, the most important economist of his generation, as an impractical “mathematician.” President Dwight D. Eisenhower, in his farewell address, urged Americans to keep technocrats from power, warning that “public policy could itself become the captive of a scientific-technological elite.” Congress took testimony from economists but, as a rule, it did not take that testimony very seriously. “Economics was viewed generally among top policymakers, especially on Capitol Hill, as an esoteric field which could not bridge the gap to meet specific problems of concern,” an aide to Wisconsin senator William Proxmire, a leading Democrat on domestic policy, wrote in the early 1960s.<br/><br/>https://www.littlebrown.com/titles/binyamin-appelbaum/the-economists-hour/9780316512329/ |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Economists - United States |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Economic history - 20th century |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
Economics - United States - 20th century - History |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Source of classification or shelving scheme |
Dewey Decimal Classification |
| Koha item type |
Book |
