Rebirth of Reason

Favorite EditSanction this itemWhat Does Mr. Greenspan Really Think? by Lawrence Parks
What Does Mr. Greenspan Really Think?“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

Dr. Walter Block, Ph.D.
Harold E. Wirth Eminent Scholar
Loyola University New Orleans
Added by Peter Skup
on 9/08/2005, 3:26am

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