The book is a testament to the durability of ideas propagated by Western institutions
PRIESTS OF PROSPERITY How Central Bankers Transformed the Postcommunist World Juliet Johnson Speaking Tiger 284 pages; Rs 895 In the popular discourse, the United States Federal Reserve is often held up as a shining example of a truly independent central bank. The reality, though, is far from it. In a widely cited paper, economists N Nergiz Dinçer and Barry Eichengreen find that the Fed, a supposed beacon of independence, is one of the least independent central banks in the world. Surprisingly, the most independent ones are those of the Kyrgyz ...
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