Innocent frauds in Greenspan's last testimony

Philip Arestis and Warren Mosler

Journal of Post Keynesian Economics, 2006, vol. 28, issue 3, 539-547

Abstract: This paper engages the last testimony of the Chairman of the Federal Reserve System, Alan Greenspan, before a joint session of Congress in July 2005. It identifies nine areas we relate to the arguments of John Kenneth Galbraith, summarized in his recent contribution, The Economics of Innocent Fraud, regarding the divergence between the innocent fraud of conventional wisdom in regard to economic and accounting realities.

Date: 2006
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DOI: 10.2753/PKE0160-3477280309

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