Rutgers University President Robert Barchi accepted his athletic director’s resignation and vowed to keep his own job amid growing uproar by faculty and politicians over the handling of a basketball coach’s abuse of players.
Rutgers University President Robert Barchi resisted calls to resign as Athletic Director Tim Pernetti stepped down and blamed administrators for not letting him immediately fire the basketball coach for abusing players.
Ever since the U.S. severed the last remnant of the dollar’s link to gold in 1971, economists have been searching for a new rule for monetary policy. The Great Inflation of the 1970s only reinforced the notion that rules trump discretion. But what sort of rule exactly?
If you’ve ever experienced high inflation, you’re unlikely to forget it. In the decades between the end of World War II and the creation of Europe’s new currency, Germany’s central bank set the global standard for sound finance and monetary conservatism. Germany’s folk-memory tied the hyperinflation of the 1920s to the destruction of German society and the rise of Adolf Hitler. “Never again” was the idea that motivated, and to some degree still motivates, German monetary policy.
Friedrich Hayek’s book “The Road to Serfdom” has served as a beacon for American conservatives since its publication in 1944. Today’s Republicans often cite the book in their fight to limit federal power and regulation. Hayek’s views, however, were more complicated than they often assume.