The Historical Origin of Bernanke's Green Shoots, Soft Patches, Head Winds, and Other Important Insights

Gary North

June 23, 2011

To understand Professor Ben Bernanke's testimonies, speeches, and two press conferences (so far), you must understand the science of economics. Here is a presentation by a man who fully understood economics as it is practiced in the better universities, such as Bernanke's Princeton, where Paul Krugman cogitates. He gave this masterful presentation in 1931, and it holds up remarkably well, although it was pre-Keynesian. I suspect that it was this presentation that persuaded Keynes to develop his new economics. Keynes' General Theory displays the same conceptual rigor, the same attention to detail.

The next time you read a speech by Professor Bernanke, think about this presentation. It was by Robert Benchley.

If you are impressed, send the link to any of your friends who might also want to understand Professor Bernanke. More people need to know how his mind works.