Ideology

It's the Animal Spirits, Stupid!

It's the Animal Spirits, Stupid!

In the midst of the financial panic sparked by the fall of Lehman Brothers, Alan Greenspan, chairman of the Federal Reserve from mid-1987 to 2006, shocked the American public. Testifying before the House Committee on Oversight and Government Reform on October 23, 2008, Greenspan had this extraordinary exchange with Representative Henry Waxman...