Tag: daniel patrick moynihan

Back When Democrats Cared Enough to Advocate What Works

Many, if not most, of the stated goals of the Democratic Party have universal appeal in the United States. Foremost among those would be reducing poverty and ensuring that every child has access to a high-quality education.

The problem with the Democratic Party today is that its leadership seems not to understand the kinds of policies that will achieve those goals. Instead of finding out what works and implementing it, they simply call for new government programs on the assumption that those programs will work (or, if you’re jaded, on the assumption that doing so will get them re-elected).

It wasn’t always like that. There was a time when one of the most prominent Democrats in the nation was so deeply committed to these goals that he was willing to advocate the policies that would achieve them—special interests be damned.

Scott Walter has a little of that story at Philanthropy Daily.

To plagiarize Instapundit: more like this, please.

Friedman and Moynihan Agree with Sanders and Paul

Reportage in today’s New York Times (“Consensus For Limits to Secrecy At the Fed” by Sewell Chan) indicates that more auditing of the Fed is probably in the cards.

Prof. Milton Friedman and Senator Daniel Patrick Moynihan would have most certainly agreed with the thrust of the Senate (S. 604) and House (H.R. 1207) bills sponsored by Senator Bernard Sanders and Representative Ron Paul, respectively.  These bills would partially lift the shroud of secrecy draped over the Fed.

Prof. Milton Friedman weighed in on central bank independence in a 1962 essay, “Should There Be an Independent Monetary Authority?”  Prof. Friedman’s conclusion: “The case against a fully independent central bank is strong indeed.”  As for letting in some sunshine, Senator Moynihan had this to say: “Secrecy is for losers.”