I pay a lot to know exactly what Greenspan thinks. Part of me thinks that he knew all along that being the Chairman of the Fed was eventually going to be a losing game (how can you centrally plan interest rates better than anything else?). Another part of me thinks this may be true:
The fact that Rand is part of the current intellectual conversation is one reason why I am not quite as gloomy about the state of affairs in this world than I might otherwise have been. Let's face it, had one of her former acolytes, Alan Greenspan, stuck to his early disdain for central banking before he became part of the system, we might not be in this mess today.