Magazine
Latest Issue

Whose fault was it, then?

Alan Greenspan appears to have learnt nothing from his time at the top of the Fed

By Philip Coggan   November 2013

The Map and the Territory: Risk, Human Nature and the Future of Forecasting by Alan Greenspan (Allen Lane, £25)

It is never too late for a sinner to repent. Alan Greenspan, former Chairman of the Federal Reserve and high priest of free market capitalism, has come to appreciate that markets sometimes get it wrong. He once talked of “irrational exuberance” in the stock market and did nothing about it. But in his new book, he writes that it may be possible “to identify emerging asset price bubbles in equities, commodities and exchange rates—and even to anticipate the economic consequences of…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect