In their patter song in The Pirates of Penzance, Gilbert and Sullivan satirised the notion of an educated “modern major-general”. Today they might satirise academic central bankers, of which Ben Bernanke – soon to be ex-chairman of the Federal Reserve – is the very model. As a distinguished scholar, he brought to the Fed a brilliant and well-informed mind. His knowledge of economic history helped him halt a terrifying panic. But he also made mistakes. History will probably judge him kindly. But there is much to be learnt from his time at the Fed.
在喜劇《彭贊斯的海盜》(The Pirates of Penzance)的打油歌中，吉爾伯特(W.S.Gilbert)和沙利文(Arthur Sullivan)諷刺了有修養(yǎng)的“現(xiàn)代少將”形象。放到現(xiàn)在，他們或許會(huì)諷刺學(xué)院派中央銀行家，而即將卸任美聯(lián)儲(chǔ)(Fed)主席的本?伯南克(Ben Bernanke)正是這一形象的典型。伯南克是杰出的學(xué)者，為美聯(lián)儲(chǔ)帶來了才華橫溢、博聞廣識(shí)的頭腦。對經(jīng)濟(jì)史的了解幫助他阻止了一場可怕的恐慌。但他也犯過錯(cuò)誤。歷史或許將賦予他正面的評(píng)價(jià)。但我們還需從他的美聯(lián)儲(chǔ)任期中學(xué)習(xí)不少教訓(xùn)。