Serious question: Is Alan Greenspan an excellent economist ?

[steve2470]

My "assumption" would be that he is, given his post. Is this assumption accurate, DU economists ?

[montanacowboy]

1. Wrong

read Paul Krugman on Greenspan; this guy in 1993 raised interest rates 7 times in the face of NO inflation and caused all kind of problems; now he is doing it again 10 times so far and still going; what is going to happen to people with adjustable mortgages and credit card interest? it only hurts the little people;

He is a right wing HACK as Harry Reid just so recently and correctly called him.

[Yavin4]

2. Greenspan Uses Interest Rate Policies To Directly Affect Elections

He raised rates like crazy all throughout Clinton's two terms. The lowest interest rates that Clinton got from him was 3% in 1993. The average was at least 4.5-6%.

For Bush, Greenspan lowered rates to historically low levels. From late 2001 through the election, interest rates were around 1% to 1.5%.

[ecdab]

3. Greenspan is

an excellent economist, but he has allowed ideology to color his actions a bit too often - his legacy as an excellent economist is very much in question at this point. His legacy as the Fed Chairman has been washed away by his actions and his failure to understand how congress would use his reports.

[BillZBubb]

4. Greenspan is a great economist (for rich Repugs)

He's always been able to find "potential" inflation when Democrats are in control so he could raise rates sharply leading into elections. He did a great job of hurting Gore's chances in 2000.

Immediately after the election he dropped rates to an unprecedented low level to compensate for stalling the economy and to help out Busholini.

That's just one example of Greenspan's political economy. He's a right wing hack and has done only a so-so job at the Fed.

[wli]

5. he's an economic hitman n/t

[Festivito]

6. Strong in economics, but a weak person.

He knows his billions from trillions, his international debt from domestic, and, after years and years, a lot of subtleties. He adroitly speaks in high language to state the obvious to people who can follow his thought process. (Works for me.) I think he has a good idea of how much he can push things and does push for RepubliCONs... to his discredit. (His mother should not be proud.)

My view is that Ronald Reagan borrowed on the American credit card the cost of the Vietnam war that we lost. Before that the loss was being paid by our indolence through our dollar losing value, i.e. inflation. Greenspan had to handle a lot during that period and I'd give him considerable credit.

BUT, this is totally my own view after taking uninteresting classes in ECON 201 and 202 as a requirement for my Engineering. IOW I could have my head in a place that could explain why I cannot shed enough light on everything.