Source: Foundation for Economic Education
by Sergio MartÃnez
“A central bank wields a peculiar kind of power. It holds a monopoly over money, and money runs through nearly every transaction we make. Because of that reach, a monetary mistake travels through credit markets, housing, banks, pension funds, and the budgets of millions of people who never had a say in the policy. That is the right place to begin a reflection on Alan Greenspan, who died on June 22, 2026, at the age of 100. His was a mixed legacy. Here was a man who understood the power of markets, and who nonetheless turned on those markets when they soured, blaming private excess for a crisis his own institution had helped make possible.” (06/25/26)
https://fee.org/articles/alan-greenspan-and-the-monetary-monopoly/