Brad DeLong recants his allegiance to Greenspanism:
Well, give the DeLong credit, he owned up to it.
He's on the run now. The next step is for him to recant his allegiance to free trade with low-wage nations.
He has already done an about-face
on how recessions impact management-labor power relations.
Re Greenspan: He wasn't wrong on everything, but his tolerance for bubbles was completely irresponsible.