Wednesday, August 28, 2013

Bernanke Textbook Royalties

The Federal Reserve has released the financial disclosure documents of its board members. WaPo reports on the disclosure statement of Fed chairman Bernanke:
The textbook business can be very very lucrative. Fed Chairman Ben Bernanke is co-author (from before he was in government) of “Principles of Economics” and “Principles of Macroeconomics” (written with Robert Frank, published by McGraw-Hill) and “Macroeconomics” (with Andrew B. Abel and Dean Croushore, from Pearson). It appears that the McGraw-Hill books are more lucrative, generating $100,000 to $1 million in income for the chairman, who also made $50,000 to $100,000 from Pearson.

He's minor league compared to  Greg Mankiw (and probably Paul Krugman)