Alan Greenspan (1926-2026): his mixed legacy is traceable to how he viewed the free market’s role
From these episodes, Greenspan inferred that self-interested markets, while prone to excesses, could correct themselves sufficiently to avoid imperilling the financial system and economy. The correct lesson would have been, first, that markets need strict regulation, and, second, that competent technocrats are a must at the helm. These are timely lessons in 2026. ©2026/Project Syndicate
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