"Other People's Blood". “...to establish its credibility, the Federal Reserve had to demonstrate its willingness to spill blood, lots of blood, other people’s

"Other People's Blood". “...to establish its credibility, the Federal Reserve had to demonstrate its willingness to spill blood, lots of blood, other people’s blood.” - Reagan’s economic adviser Michael Mussa on Volker https://nplusonemag.com/issue-34/reviews/other-peoples-blood-2/ https://nplusonemag.com/issue-34/reviews/other-peoples-blood... I've been desperate to learn more about this since watching Mark Blyth's talk "A Brief History of How We Got Here and Why" (https://www.youtube.com/watch?v=tJoe_daP0DE&t=1243s https://www.youtube.com/watch?v=tJoe_daP0DE&t=1243s) And while Blyth takes the opinion that Volker and Friedman were just the next steps in the evolution of capitalism, and I am still desperately lacking knowledge about this context, I can't help but have a feeling that if the future is continues with worsening inequality and political instability in a neoliberal context, we'll look back and be able to say it started with Volker.