> Who are you talking about and what did they actually say? Greenspan. Some quotes here: https://www.theguardian.com/business/2008/oct/24/economics-creditcrun

> Who are you talking about and what did they actually say? Greenspan. Some quotes here: https://www.theguardian.com/business/2008/oct/24/economics-creditcrunch-federal-reserve-greenspan https://www.theguardian.com/business/2008/oct/24/economics-c... > The former Federal Reserve chairman, Alan Greenspan, has conceded that the global financial crisis has exposed a "mistake" in the free market ideology which guided his 18-year stewardship of US monetary policy. > A long-time cheerleader for deregulation, Greenspan admitted to a congressional committee yesterday that he had been "partially wrong" in his hands-off approach towards the banking industry and that the credit crunch had left him in a state of shocked disbelief. "I have found a flaw," said Greenspan, referring to his economic philosophy. "I don't know how significant or permanent it is. But I have been very distressed by that fact." - - - - In re: Inflation rate targeting, I'm not educated enough in economics (I think it's kooky, eh?) to have an informed opinion. If it's been working for thirty years, great. That's about how long it's been since I examined and dismissed economic "science" as a snotty teenager, so maybe I'm just ignorant. Here's a fun thing: > Professor Charles Goodhart, a Pacemaker.Global Advisor, professor emeritus at the LSE and former member of the Bank of England’s monetary policy committee, made a rather remarkable statement at the ECB Forum on Central Banking 2021 last month: “the world at the moment is in a really a rather extraordinary state because we have no general theory of inflation” https://www.pacemaker.global/post/goodhart-we-have-no-general-theory-of-inflation https://www.pacemaker.global/post/goodhart-we-have-no-genera...