Article
Debt Tsunami: The Alan Greenspan Legacy
Debt Tsunami: The Alan Greenspan Legacy
Authored by Jeffrey Tucker via The Epoch Times,
Alan Greenspan, Fed chair from 1987 to 2006, embodies a striking ideological shift from gold-standard advocate to architect of the modern easy-money, debt-fueled financial system. He has now died at the age of 100, and this marks a good time to assess his legacy and explain why it matters.
In the 1960s, as a young economist influenced by Ayn Rand and Objectivism, Greenspan strongly supported the gold standard. In his 1966 essay “Gold and Economic Freedom,” he argued...
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Summary:
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