Abstract

THE ONE-EYED CHAIRMAN

Argues that the United States Federal Reserve chairman, Alan Greenspan, pushed the right's agenda. Claim that Greenspan enlisted himself and the central bank in advancing the reform agenda of the Republican right; Criticism of Greenspan for endorsing the tax cuts of President George W. Bush and for embracing Bush's Social Security reform plans; Suggestion that the role of the Federal Reserve chairman is to be a nonpartisan actor that regulates economic growth for long-term stability; Suggestion that Greenspan acted too often in favor of special interests, financial power and wealth; History of the Federal Reserve chairman, starting with Marriner Eccles; Favor of conservatives for supply-side economics that help wealth holders; Criticism of Greenspan for his treatment of wages and prices; Reference to the book "Irrational Exuberance," by Robert Shiller.