Volcker to the White House

Paul Volcker, the man who finally whipped American inflation, has been tapped by Obama for a special White House advisory role.

Volcker is a very, very smart man.  It is probably heresy, but I wonder if the endowments, like steel gonads, needed to crush inflation with 20% short term rates, are the same endowments that make you good at battling collapsing credit markets.  The man and the moment have to combine correctly--Churchill was very good at battling Hitler, and very bad at peacetime tasks like running the Bank of England, or post-war Britain.

The other worry is, of course, that he is 81, and the workload may shorten the lifespan of a national treasure.  But if the national treasure is willing, who am I to disagree?

Presented by

Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

Google Street View, Transformed Into a Tiny Planet

A 360-degree tour of our world, made entirely from Google's panoramas

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

Google Street View, Transformed Into a Tiny Planet

A 360-degree tour of our world, made entirely from Google's panoramas

Video

The 86-Year-Old Farmer Who Won't Quit

A filmmaker returns to his hometown to profile the patriarch of a family farm

Video

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Video

Carrot: A Pitch-Perfect Satire of Tech

"It's not just a vegetable. It's what a vegetable should be."

Video

The Benefits of Living Alone on a Mountain

"You really have to love solitary time by yourself."

More in Business

Just In