Russ Roberts this morning on CafeHayek has two posts on Alan Greenspan’s abject testimony on Capital Hill yesterday. One goes through some of the mea culpa replies to Chairman Waxman’s aggressive baiting. As Roberts leads off,
Alan Greenspan has been forced to admit the heresy of his youth. He has recanted.
Roberts’ second post portrays Greenspan as the ghost of Milton Friedman:
In one of the most shocking and eerie moments in the history of Congress, the ghost of Milton Friedman recently completed an appearance on Capitol Hill before the House Committee of Government Oversight and Reform. Appearing just eight days before Halloween, Friedman’s ghost admitted that markets weren’t perfect and that sometimes people make mistakes.