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I've always wondered about that quote attributed to Alan Greenspan -- while Fed chairman -- that he would prefer to go back to a gold standard. Lawrence H. White cites it in "What Type of Inflation Target" in the Cato Journal (though the web address he gives as his source seems to be obsolete).

Bradford (1997) reports the following exchange between Sen. Paul Sarbanes and Alan Greenspan: ?The Senator could scarcely believe his ears. ?Now my next question is, is it your intention that the report of this hearing should be that Greenspan recommends a return to the gold standard?? Greenspan responded, ?I?ve been recommending that for years, there?s nothing new about that. . . . It would probably mean there is only one vote in the Federal Open Market Committee for that, but it is mine.??

The source White cites is:

Bradford, B. (1997) ?Alan Greenspan and Ayn Rand.? The American Enterprise Magazine (September/October).

Here's another one. Ever wonder about Milton Friedman's strange statement that "We are all Keynesians now"? From the same Cato Journal, here's Robert Barro in "Milton Friedman: Perspectives, Particularly on Monetary Policy":

Milton is often cited, starting with Time magazine in December 1965, for the famous quote: ?We are all Keynesians now.? However, we learn from the Memoirs that the quote was taken out of context to change the meaning. The full statement reconstructed by Milton in a letter to Time in 1966 is: ?In one sense we are all Keynesians now; in another, nobody is any longer a Keynesian.? Milton explains that the first sense refers to the rhetoric and style of macroeconomic analysis ? Keynes essentially invented macroeconomics as a distinct field. The second sense applies to substantive implications; specifically, to the idea that (almost) no one now advocates the simplistic policy activism recommended in Keynes?s General Theory. Although the second observation is more significant, the first one got most of the press.

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