- Capitalism and Alternatives -

Here's one for the Objectivists

Since Greenspan has Objectivist credentials, he is supposed to represent the 'philosophy' of laissez faire capitalism, right?

According to this week's issue of Barron's :

'The problem is Alan Greenspan,' says Charles Pradilla, strategist at SG Cowen. 'He seems determined to take the market down to avoid a Nikkei-like bubble in 1989. He controls the money and can change the rules. Greenspan is like a stern uncle scolding kids who are playing too hard and fast.
(Barron's, 18 October 1999, p. MW5.)

Sounds like a 'command' economy to me... Or is the attempt to foster unemployment (the immediate result of higher interest rates) 'laissez faire' because it's so much fun for the capitalists?

Just wondering...

Follow Ups:

• By that logic, Stalin had marxist credentials David USA October 23 1999 (1)
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