That 1996 Greenspan essay seems impressive just by itself. But I look at what Greenspan did in the real world with his extended easy money policy after 9-11-2001 and the Fed’s forcing banks to loan to unqualified minorities and other unqualified people. Alan Greenspan’s policies were inspired by Ayn Rand and libertarianism
Greenspan fueled this manic era (irrational exuberance) with easy money. He supplied the high proof liquor at the party
He certainly misinterpreted Ayn Rand when it comes to moral hazard.