What he's shown is that you can have full employment and low inflation at the same time. The Keynesian school didn't believe that, but Greenspan showed that it could be done.
More Quotes from Allan Meltzer:
There's more consensus . . . within the economics profession about how the world works than there was in the 1950s, '60s and '70s.Allan Meltzer
The way to get higher growth is to have lower inflation. The success of the Fed and the Bank of England has done much to convince people that that's the way to go.
Allan Meltzer
I don't think that you can set policy according to possible contingencies that may occur, but about which you have no information.
Allan Meltzer
Don't believe ... the widely reported loss of millions of manufacturing jobs since the Bush administration took office, ... All these alleged facts are either wrong or greatly exaggerated, based on the same faulty source.
Allan Meltzer
The fact that you have only these minor criticisms is quite an achievement.
Allan Meltzer
Readers Who Like This Quotation Also Like:
Based on Topics: Time QuotesBased on Keywords: keynesian
Nothing that comes from the deep, passional soul is bad, or can be bad.
David Herbert Lawrence
Better to fight for something than live for nothing.
George S. Patton
Religious faith depends on a host of social, psychological and emotional factors that have little or nothing to do with probabilities, evidence and logic.
Michael Shermer