One of the reasons for attending annual meetings of the IMF and World Bank is, inter alia, to talk to Mr. Greenspan, the legendary Chairman of the Federal Reserve, who told me a month ago at a dinner party in Washington: “By definition, politicians do not understand monetary policy – otherwise, they would not be politicians“!
Still, I find it very surprising that a country, such as Serbia, should have so many “professors” and “experts” on monetary policy who are a disgrace to their own profession and the very subject matter that they have been teaching their students for decades.