Tall Paul Volcker, The Last Central Banker (Part 5)

By August 1987 the cause of fiscal rectitude was already being snuffed out by the very Republican Party that had carried the torch for decades after America joined the ranks of welfare state democracies during the 1930s. But the replacement of the incorruptible Volcker with the weak-kneed, publicity and adoration-hounding Alan Greenspan sealed its demise. That’s because there is nothing […]