Thank Bush for Ben Bernanke (Bangkok Post)

Gotta love the Internet. How else could I read this, written by Kenneth Rogoff, a professor of Economics at Harvard University, as presented to a Bangkok readership?

The world may not know it, but we all dodged a bullet when George W. Bush nominated Ben Bernanke to succeed the all-powerful US Federal Reserve chairman Alan Greenspan. There were some positively scary names for a potential Fed chairman floating out of the White House, and I, for one, had no confidence in the outcome.

Instead, almost miraculously, we got an absolutely first-rate economist, a safe pair of hands to guide the global economy. Those of us who know Mr Bernanke view him as someone who has the experience, intellect and personality to sparkle in the position that he will assume in February.

Why is the job so important? Alan Greenspan is a great man, but it is a curious set of circumstances that has elevated the job of Fed chairman to Mount Olympus...

Full article

Yes, sir. A fellow with a bachelor’s degree in history from Yale University and a Master of Business Administration from Harvard Business School, plus real world experience, plus scores and scores of expert advisors - why, it's a miracle he made a good pick to lead the Fed. (Hee, hee.)

And I'm no economist, but is the Fed chairman actually all-powerful and up there with the gods? So to speak? I mean, I know he can greatly influence the economy, but really, I don't lay awake of nights hoping he doesn't take it into his head to give humankind a jostle or two.

Kidding aside, I'm delighted that there's at least one appointee out there who has professionals from across the political spectrum counting their blessings and celebrating their good luck. I have to agree that we seem to have lucked out with Bernanke's appointment.

And I hope Kenneth Rogoff will forgive my gentle jesting. If I worked at Harvard I'm not sure I'd have the guts to say anything nice about anyone remotely related to the Bush administration. I'm guessing that isn't necessarily a popular thing to do in a liberal stronghold right now...

A side note: Rogoff used to be a chess champion back before he became an economist. (He has some links to photos and articles in the bio linked in the previous paragraph.) This reminds me. I didn't mention it the other day, but Gambit, the Rex Stout book from which I lifted a quote the other day, revolves around chess players. I don't think you have to know chess to enjoy it, but I suspect that folks like Rogoff would notice some inside jokes that I just know must be in there but don't have the background to pick up.