In tackling today’s challenges, the details of what Volcker did are irrelevant. But his lessons are not: do the right thing even if the right choice is rather less obvious today; do not put your trust in unbridled finance; and have courage.
Paul Volcker is the greatest man I have known. He is endowed to the highest degree with what the Romans called virtus (virtue): moral courage, integrity, sagacity, prudence and devotion to the service of country.”
Thus did I open my review of his memoir, Keeping At It: The Quest for Sound Money and Good Government, published last year. As Hamlet said of his father, “He was a man, take him for all in all. I shall not look upon his like again.”
Loading...
Financial Times
Martin Wolf is chief economics commentator at the Financial Times, London. He was awarded the Commander of the British Empire in 2000 “for services to financial journalism”.
