Greenspan Essay Rand

Greenspan Essay Rand-19
Democratic president Bill Clinton reappointed Greenspan, and consulted him on economic matters.

I began to study how societies form and how cultures behave, and to realize that economics and forecasting depend on such knowledge -- different cultures grow and create material wealth in profoundly different ways. She introduced me to a vast realm from which I'd shut myself off.

The philosophy of Ayn Rand, a twentieth-century novelist and philosopher, is known as Objectivism.

Yet if taxation was wrong, how could you reliably finance the essential functions of government, including the protection of individuals' rights through police power?

The Randian answer, that those who rationally saw the need for government would contribute voluntarily, was inadequate. I still found the broader philosophy of unfettered market competition compelling, as I do to this day, but I reluctantly began to realize that if there were qualifications to my intellectual edifice, I couldn't argue that others should readily accept it.

Most everyone sees the simple outline of an idea before complexity and qualification set in.

If we didn't, there would be nothing to qualify, nothing to learn.

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; born March 6, 1926) is an American economist who served as Chair of the Federal Reserve of the United States from 1987 to 2006.

On June 2, 1987, President Ronald Reagan nominated Greenspan as a successor to Paul Volcker as chairman of the Board of Governors of the Federal Reserve, and the Senate confirmed him on August 11, 1987.

Two months after his confirmation Greenspan said immediately following the 1987 stock market crash that the Fed "affirmed today its readiness to serve as a source of liquidity to support the economic and financial system" George H. Bush blamed Fed policy for not winning a second term.

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