|Greenspan: Still Going for the Gold|
by Judy Shelton (05/15/1997)
If patience is a virtue, Alan Greenspan is a saint. For more than three decades he has endeavored to guide the nation toward sound money -- first as a radical intellectual, then as an business economist and presidential adviser, and currently as chairman of Board of Governors of the Federal Reserve System. His critics on the left seem unable to comprehend the destructive consequences of irresponsible fiscal policy and accommodative monetary policy. His critics on the right simply cannot appreciate the long-term perspective of Greenspan, a man who argued powerfully in the 1960s that "gold and economic freedom are inseparable" and who has steadfastly, albeit slowly, continued to pursue the realization of his intellectual ideals in the economic sphere. Arbitrary and capricious, he is not.