Originally published on December 18, 2019
Today, shortly after Paul Volcker's passing and his memorial service, and shortly after Mario Draghi passed the baton of the European Central Bank to Christine Lagarde, I can't help but reflect on the heroism of these people and the heroism of Ben Bernanke and many other public servants who faced huge challenges and courageously and smartly (albeit imperfectly) dealt with them. They did so despite criticisms from ignorant people who advocated policies that would have been disastrous and despite the complaints of cynics who focused on the imperfections that