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  What Does Mr. Greenspan Really Think? by Lawrence Parks | ||||
 | “Were there a bureaucrat controlling any other industry (e.g., farming, fishing, furniture making) who did for it what Alan Greenspan does for monetary policy, we would have no difficulty in labeling him as an economic czar, a socialist of the worst stripe. We would tell him to go back, not to Russia, or East Germany, but to Cuba or North Korea. We would give him Adam Smith’s message about the invisible hand being better able to coordinate the activities of millions of people than governmental fiat. But Alan Greenspan, somehow, is different. He is above the fray. He is in effect an economic dictator who widely receives credit as an advocate of free enterprise. He is guilty of the worst excesses of central planning, and is seen by virtually all commentators in the very opposite role. Alan Greenspan has feet of clay; he is an Emperor with no clothes. Larry Parks is like the small boy who points out the nudity of the king. In this masterful debunking of the Greenspan myth, Dr. Parks places the Chairman of the Board of the Federal Reserve in a well deserved light; not as the savior of the capitalist system, but as one of its greatest enemies.” Dr. Walter Block, Ph.D. Harold E. Wirth Eminent Scholar Loyola University New Orleans | |||
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