[ExI] How slow is capitalism?

[F. C. Moulton]

On 05/01/2011 11:58 PM, Kelly Anderson wrote:
> Greenspan served as Chairman of the Federal Reserve of the United
> States from 1987 to 2006. Whether he implemented Mieses friendly
> policies is potentially up for debate.

Actually I do not think there is much debate about it.  Greenspan was a
Regulator.  I fail to see how anyone can seriously argue that what
Greenspan was involved in had anything to do with a free market
approach.   Greenspan was a Regulator and as a regulator he did not
always regulate very well.   Do not confuse a free market approach with
what Greenspan was doing.

>  What is not as clear to me is
> how you can blame him for the stuff that has happened mostly since
> 2006 which seems clearly more problematic than that which happened
> before.
Actually there are long lead time situations where action or inaction in
one time period manifests itself many years later.
>  He kept the economy going through Democratic and Republican
> administrations with quite a bit of stability.

That is correct for specific time periods but we need to remember that
growth and stability over one time period might plant the seeds for
instability later.

Fred