Alex J. Pollock

Alex J. Pollock is the Principal Deputy Director in the Office of Financial Research, U.S. Treasury. Previously a distinguished senior fellow at the R Street Institute in Washington, D.C., he is the author of Finance and Philosophy: Why We're Always Surprised.

|, ,

Should the Fed Be Run by Economists?

by |

Federal Reserve Chairman Jerome Powell looks on as President Trump speaks in the Rose Garden on November 2nd, 2017. Credit: Alex Edelman/CNP /MediaPunch
Perhaps inside every macroeconomist is a philosopher-king trying to get out?

|, , ,

Actually, Sovereigns Do Go Broke

by |

A crowd of pensioners outside a branch of the National Bank in Thessaloniki, Greece on July 1, 2015 (Ververidis Vasilis / Shutterstock.com).
The cycle of sovereign borrowing, default, and new borrowing has a long and continuing history.

|, , ,

Lest We Forget

by |

Former Treasury Secretary Henry Paulson, former president of the New York Federal Reserve and former Treasury Secretary Timothy Geithner, and former Federal Reserve Chair Ben Bernanke. Image: Ben Hethcoat / Marketplace.org
Bernanke, Geithner, and Paulson tell their story: "For all our crisis experience, we failed to anticipate the worst crisis of our lifetimes."

|, , ,

Steering Central Banking Past Scylla and Charybdis (the Technocrats and the Politicians)  

by |

Headquarters of the Federal Reserve, Washington, DC (MDogan/Shutterstock.com).
Although they are monetary and economic experts, do central banks have the requisite knowledge to succeed?

|, , ,

What Does the Fed Know that Nobody Else Knows?

by |

Federal Reserve Chairman Jerome Powell looks on as President Trump speaks in the Rose Garden on November 2nd, 2017. Credit: Alex Edelman/CNP /MediaPunch
Central banks usually feel the urge to pretend to know more than they can, in order to inspire “confidence” in themselves.

|, ,

The Inescapably Political World of Banking and Finance

by |

Federal National Mortgage Association (Fannie Mae) headquarters in Washington, D.C. (Frontpage / Shutterstock.com).
Both banks and governments often make big mistakes at forecasting the economic and financial future.

|, , , , ,

In Finance, the Blind Spots Will Always Be With You

by |

Financial risk will always be with us (Image: gopixel / shutterstock.com).
There are no financial philosopher-kings and there can never be any, in central banks or anywhere else.

|, , , , , , , ,

Perpetual Inflation vs. Sound Money

by |

United States Federal Reserve Bank building on Constitution Avenue in Washington, D.C. (Rob Crandall / Shutterstock.com).
Modern central banks keep attempting to manipulate prices to a different and “better” outcome than the market would provide, but what does this achieve?

|, , , , , , ,

Knowledge, Risk, and the Surprised Banker: A Conversation with Alex Pollock

by |

Alex Pollock discusses the philosophy of finance and why the quant guys keep getting it wrong.

|, , , ,

The Great Waves of Industrial Innovation

by |

GaudiLab/Shutterstock.com
Innovation offers the greatest engine for growth the world has ever seen, but why do so few people realize how good we have it?

About

Law & Liberty’s focus is on the classical liberal tradition of law and political thought and how it shapes a society of free and responsible persons. This site brings together serious debate, commentary, essays, book reviews, interviews, and educational material in a commitment to the first principles of law in a free society. Law & Liberty considers a range of foundational and contemporary legal issues, legal philosophy, and pedagogy.

The opinions expressed on Law & Liberty are solely those of the contributors to the site and do not reflect the opinions of Liberty Fund.

© 2021 Liberty Fund, Inc.