Friday, March 13, 2009

Was it Greenspan?

A month ago I wrote about crisis blame.

Alan Greenspan is finally involved. Two weeks ago, one of his old Objectivist friends wrote an essay lamenting Greenspan's departure from Objectivism and blaming his policies for enabling the current economic crisis. This week Greenspan wrote an article in the WSJ to defend his policies from blame.

The big issue is the gold standard, and since the monetary base has recently skyrocketed we will all soon find out if Greenspan was right or wrong to leave Objectivist teaching.

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