Oh sure, Satan cast down from the heavens, we've never heard that story before.
Greenspan, who was in Rand's inner circle, an economic leader of our time who beat the drum of free-market ideology, claims the idealogy he followed for so many years, is flawed.
Aside from the reality of what Greenspan stated clearly, given his background and views, what's interesting to me is that the act of being the central planner in and of itself is not shown to be linked to anything that precipitated the failures. So why mention it?
If ones idealogy, objectivism or otherwise, leaves a void of power, that power will be taken. As Utah points out, there is also a precident that it will be a crook at some point (if not always to some degree).
No central planner? Someone will TAKE the role. And if its' private, with no transparancy or other seats of power to keep it in check, then it's safe to assume it's a WORSE option. Free-market doesnt' mean free-market, it means less government involvement. Private power can eliminate most or all of the "Free" aspect of most any market, just as any other power can.
-Mach
