Central Bankers

“We face a broader challenge—to defend the market economy amongst so many who suffered during the financial crisis. This was expressed memorably by William McChesney Martin when he spoke to the Economic Club of New York in 1957. He said, ‘Men begin to question whether the merriment was worth the misery, especially when the misery was worse among the millions who had never got in on the merrymaking in the first place.’ ” —Mervyn King, governor, Bank of England

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