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Academics as Economic Advisers: Gold, the 'Brains Trust,' and FDR

Sebastian Edwards

NBER Working Paper No. 21380
Issued in July 2015

---- Acknowledgments ----

I am grateful to María Carolina Arteaga for her assistance. I thank Alvaro García Marín for his help with the data. A previous version circulated as “Economists did not soil their hands: FDR, gold and the ‘Brains Trust’.” I have benefited from comments by seminar participants at Duke’s Center for the History of Political Economy. I thank the following colleagues for very helpful comments and suggestions: Craufurd Goodwin, Barry Eichengreen, Michael Bordo, Eric Rauchway, Doug Irwin, George Tavlas, and Brad De Long. As always, conversations with Ed Leamer have been illuminating. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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