David L. Bahnsen, a good friend of Acton, has begun a series of reviews of books on the financial crisis. No doubt, he’ll have many to review in the months ahead.
Here’s from Bahnsen’s latest, a review of Greenspan’s Bubbles by William Fleckinstein:
When someone in the position of authority and reputation as the chief central banker of the world decides to preach the new paradigm of eternal productivity, he encourages others to join particular sides of trades that may be wholly inappropriate. That influence is not welcome. Greenspan has done a lot to tarnish his legacy, but I believe the “age of bubbles” Greenspan reigned over should be known as the era in which the Federal Reserve chairman decided to take on the role of economic deity in our society. He was not good at it, because it was not his proper role. Our markets function better without central bankers playing the role of cheerleaders.
Bahnsen, a financial planner and investment manager, serves on the Blackstone Faculty of the Alliance Defense Fund, and is a Cooperating Board member of the Center for Cultural Leadership, where he is the Senior Fellow of Economics and Finance.
David describes himself as …
a disciple of Milton Friedman, a lover of Ronald Reagan, and a “National Review kind of conservative.” His writings strive to reflect an ideology of freedom principles integrated with transcendent truths. His hero is his late father, Dr. Greg Bahnsen, but he is pretty fond of John Calvin, Abraham Kuyper, F.A. Hayek, Winston Churchill, C.S. Lewis, William Buckley, Margaret Thatcher, George Gilder, Steve Forbes, and Larry Kudlow as well. When he is not being so serious, he also admires Tiger Woods and Pete Carroll.
Also, take a look at his musings on “Marketplace & Calling.”
