by Henry Oliner | Nov 20, 2016 | Economics
The Man Who Knew by Sebastian Mallaby is an excellent biography of Alan Greenspan, but it may have greater value in understanding the power and limitations of the Federal Reserve itself. Greenspan has been accused of being an ideologue by some and a betrayer of free...
by Henry Oliner | Nov 15, 2016 | Economics, History
I am reading an excellent biography of Alan Greenspan by Sebastian Mallaby titled The Man Who Knew. I recommend it as much for its illumination of the economy, the Fed’s role, and political decisions as for its portrayal of Mr. Greenspan. A few observations:...
by Henry Oliner | Oct 28, 2013 | Economics
From the Washington Post, Robert Samuelson writes The Greenspan Paradox. Excerpts: But there was an unrecognized downside: With a less-risky economy, people — homeowners, bankers, investment managers — concluded they could do things once considered more risky....
by Henry Oliner | Jun 20, 2013 | Economics
“Likewise, those in corporations or in policy making (like Fragilista Greenspan) who are endowed with a sophisticated data-gathering department and are therefore getting a lot of “timely” statistics are capable of overreacting and mistaking noise for...
by Henry Oliner | Jun 11, 2011 | Politics
General William Westmoreland, the U.S. Commander in Vietnam, strongly supported involuntary conscription, and told the [Gates] commission that he didn’t want to command an army of mercenaries. “General,” [Milton] Friedman interrupted, “would you rather command an...
