**Michael D. Bordo **is a distinguished visiting fellow at the Hoover Institution and a Board of Governors Professor of Economics at Rutgers University, where he directs the Center for Monetary and Financial History.John B. Tayloris the George P. Shultz Senior Fellow in Economics at the Hoover Insti...

**Michael D. Bordo **is a distinguished visiting fellow at the Hoover Institution and a Board of Governors Professor of Economics at Rutgers University, where he directs the Center for Monetary and Financial History.John B. Tayloris the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University, where he directs the Introductory Economics Center.John H. Cochrane is the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution, a research associate of the National Bureau of Economic Research, and an adjunct scholar of the Cato Institute.