>Could he really be that smart?
>
>Doug Henwood wrote:
>
>> I wonder sometimes if the New Economy
>> rhetoric isn't a cover for deflation anxiety - or if maybe one is
>> just a version of the other. If he's right about productivity, then
>> there's a great risk of either excess capacity (e.g. the late 19th
>> century) or underconsumption (e.g. the late 1920s), either of which
> > could have severe deflationary implications.
I'd be the last guy who'd want to speak up for Greenspan's brainpower, but in general the bourgeoisie is served pretty well by its central bankers, don't you think?
Doug