“The dilemma posed by a choice between rules and men largely begs the question. There are, to be sure, times when rules, constraints, commitments, contract or treaty provisions stand in the way and should be transcended because of force majeure, acts of God, some deus ex machina that makes clear that all bets are off. …
If one relies on men of responsibility to make the right choice in crisis among conflicting rules, or to follow an altogether different course for which no precedent exists, there is a danger of creating new precedents and new rules, which may be applied mistakenly under different circumstances. …
The alternative to rules—men, which of course includes women—begs another question. Men have different responsibilities, principles, understandings, interests.”

— Charles P. Kindleberger

"Rules vs Men: Lessons from a Century of Monetary Policy", Originally published in Christoph Buchheim, Michael Hutter, and Harold James, eds., Zerrissene Zwischenkriegszeit Beiträge (1994), republished in Comparative Political Economy: A Retrospective (2003)

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Charles P. Kindleberger 5

American economic historian 1910–2003

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Charles P. Kindleberger 5

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