He Was Right

Keynes
The Return of the Master
Robert Skidelsky
PublicAffairs, $24.95, 256 pp.

Former Federal Reserve Chairman Alan Greenspan was hauled before a Congressional Committee last year to explain why he had been blindsided by the global financial cataclysm. To his credit, he didn’t duck the question, although his reply was a hall-of-fame understatement. It seems, he said with welling eyes, that there had been “a flaw” in his model of the financial economy.

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About the Author

Charles R. Morris, a Commonweal columnist, is the author of The Two Trillion Dollar Meltdown (Public Affairs), among other books, and is a fellow at the Century Foundation.