The article is correct when it says that Greenspan did not believe in totally rational or efficient markets.
But Greenspan clearly stated that he believed that laissez-faire capitalism was the optimal option for democratic society even when it causes some Irrational exuberance.
Greenspan was Objectivist who had close relationship with Ayn Rand until her death. Allowing market irrationality to select who wins and loses was not against his political ideals. He believed that better are people being taken advantage by the masses in democratic society.
Greenspan politicized his office and always advocated laissez-faire. He was acting very rationally based on his ideology.
But Greenspan clearly stated that he believed that laissez-faire capitalism was the optimal option for democratic society even when it causes some Irrational exuberance.
Greenspan was Objectivist who had close relationship with Ayn Rand until her death. Allowing market irrationality to select who wins and loses was not against his political ideals. He believed that better are people being taken advantage by the masses in democratic society.
Greenspan politicized his office and always advocated laissez-faire. He was acting very rationally based on his ideology.