Don't Shoot! They're Only in Charge

With the U.S. economy slumping and global stock markets in a swoon, the folks in charge of running economic policy — central bankers and finance ministers — are finding themselves at the center of the storm. These officials are widely viewed as very powerful people, moving financial markets and determining the fate of mere mortals like you and me. Yet their influence may be significantly overstated. Just compare the fortunes of the world's two most influential central bankers — Wim Duisenberg at the European Central Bank and Alan Greenspan of the U.S. Federal Reserve. While Greenspan has received accolades for his...