"...Alan Greenspan's autobiography - I read it with shock, because I said, 'This guy was Chairman of the Fed - that's supposed to be a regulatory interventionist position - and this guy is singing the praises of Ayn Rand left, right and center.
"But that was the accepted dogma. It began with President Reagan, and it dominated the intellectual discourse of the country from that moment until a year ago. We’ve gone from Ayn Rand libertarianism to having Ken Feinberg appointed to set the salaries of senior execs at companies across the board.
"How did we span that spectrum so quickly? How do you go from one intellectual extreme to the other? And does that mean that there are no real intellectual moorings? And can we construct some meaningful set of principles that will permit us to understand what government should do and why? Because if we can’t do that, then we’ll be just coming up with ad hoc decisions without any coherent argument.”
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