In my experience, the Federal Reserve is guilty of what F. A. Hayek (1989) called “‘the fatal conceit”–that is, the belief that smart people can do the impossible. I don’t care how smart you are or how great your mathematical models are, you cannot coordinate the economic activity of seven billion people on this planet.
John Allison
John Allison was CEO of BB&T.
John Allison is an executive in residence at the Wake Forest School of Business. He is a member of the Cato Institute’s Board of Directors and chairman of the Executive Advisory Council of the Cato Institute’s Center for Monetary and Financial Alternatives. Allison was president and CEO of the Cato Institute from October 2012 to April 2015.
Lessons for the Fed from the Pandemic
Despite the serious costs of the pandemic, the responses to it have reduced costly government regulations and speeded up the development of vaccines via the private sector and encouraged new technologies.
John Allison on the Financial Crisis
John Allison, former CEO & Chairman of BB&T and current president of Cato, talks on the financial crisis and the philosophy of Ayn Rand at the Adam Smith Institute’s first Ayn Rand Lecture at Drapers’ Hall.
Video: John Allison on Principled Leadership
On July 21, 2011, Wake Forest University Schools of Business Distinguished Professor of Practice John Allison address the Master of Arts in Management Class of 2012. The retired chairman and CEO of BB&T discussed Principled Leadership with the incoming class of business students.
Making a Financial Choice: More Capital or More Government Control
The Federal Reserve’s monetary and regulatory policies were major contributors to the 2007-2009 Great Recession.
How the Fed’s Monetary Policies Caused the Great Recession
John Allison’s testimony before the Subcommittee on Monetary Policy and Trade, Committee on Financial Services, United States House of Representatives on March 16, 2017. Chairman Barr, ranking Member Moore, and members of the committee, thank you for inviting me...
A Bank CEO’s Advice to Congress
With the “fiscal cliff” mess not solved but merely kicked down the road a few months, it’s a good time to summarize a few points I make in my book, The Financial Crisis and the Free Market Cure . I hope – but do not expect – that our elected representatives learn to...
A CEO’s Message to Congress
In the long term, we cannot consume more than we produce.
Key Points on a “Rescue” Plan From A Healthy Bank’s Perspective
Here is a letter by John Allison, President & CEO of BB&T, that was sent to every member of Congress. Dear Senator/Congressman/Representative: BB&T is a $136 billion multi-state banking company. We have 1,500 branches throughout the mid-Atlantic...
Book Review of The Prime Movers: Traits of The Great Wealth Creators
Over the last 250 years, the quality of life throughout the world has been transformed. Life expectancy has increased from nineteen years in 1750 to seventy years today, and practically everyone today lives better than a king in the 1700s. There has been more progress...
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