ben bernanke. it's fascinating, paul, this is the first democratic nominee to be the head of the fed dating back to the late 1970s when jimmy carter selected paul vo volcker, and volcker slammed the brakes on the money supply, and the reason i mention that, i don't think janet yellen believes in that philosophy. when mary was talking about this philosophy of a tradeoff between inflation and unemployment, mary's right that janet yellen believes in that, but paul, i totally reject that. i look at the evidence over the last 30, 40 years and it looks to me low inflation helps grow the economy and create jobs. i think it's a false tradeoff. >> there is this philosophical difference, for greenspan and volker focused on price stability as the main goal, janet yellen really, as mary suggested, focuses on job creation and output jobs. that's her focus. that's a throwback really to the philosophy of the '60s and the '70s. >> the philosophy espoused by james tobin of yale, and she is a student of james tobin, and back in 1993, tobin said this about spending, spending money is spending money is spending money, no matter what on. that is just