Comment Yes, Greenspan is a libertarian. (Score 4, Informative) 2369
So, Greenspan who ran the government monopoly of money supply, was a libertarian? I had no idea.
Actually, yes. Greenspan is well-known to have been a lifelong libertarian. The man was a close personal friend of Ayn Rand, for gods sake. Wikipedia:
During the 1950s, Greenspan was one of the members of Ayn Rand's inner circle, the Ayn Rand Collective, who read Atlas Shrugged while it was being written. Rand nicknamed Greenspan "the undertaker" because of his penchant for dark clothing and reserved demeanor. Although Greenspan continues to advocate laissez-faire capitalism, some Objectivists find his support for a gold standard somewhat incongruous or dubious, given the Federal Reserve's role in America's fiat money system and endogenous inflation. ... However, when questioned in relation to this, he has said that in a democratic society individuals have to make compromises with each other over conflicting ideas of how money should be handled. He said he himself had to make such compromises, because he actually believes that "we did extremely well" without a central bank and with a gold standard.
This is why it was shocking to many when Greenspan made the concession before Congress last week that his ideological model of how the markets worked was flawed.
Actually, yes. Greenspan is well-known to have been a lifelong libertarian. The man was a close personal friend of Ayn Rand, for gods sake. Wikipedia:
During the 1950s, Greenspan was one of the members of Ayn Rand's inner circle, the Ayn Rand Collective, who read Atlas Shrugged while it was being written. Rand nicknamed Greenspan "the undertaker" because of his penchant for dark clothing and reserved demeanor. Although Greenspan continues to advocate laissez-faire capitalism, some Objectivists find his support for a gold standard somewhat incongruous or dubious, given the Federal Reserve's role in America's fiat money system and endogenous inflation.
This is why it was shocking to many when Greenspan made the concession before Congress last week that his ideological model of how the markets worked was flawed.
