In his reflections during congressional hearings, Alan Greenspan admitted to discovering a significant mistake in his prior beliefs regarding economic ideologies. This acknowledgment came as he faced challenging questions from Congressman Henry Waxman, who highlighted the discrepancy between Greenspan's longstanding views and the realities of the economic situation. Greenspan's candid admission marked a pivotal moment in recognizing the limitations of his earlier theories.
The exchange underscores a broader theme in...