Can the Democrats Create a New Economic Model? | RealClearPolitics

Can the Democrats Create a New Economic Model?

Can the Democrats Create a New Economic Model?
(AP Photo/Evan Vucci)

As I watched Jerome Powell, the chair of the Federal Reserve, facing some tough questions before Congress last week, my mind went back to October, 2008, when the Maestro himself, Alan Greenspan, the former Fed chair, went up to Capitol Hill and conceded that he had “found a flaw” in the economic model he had carried in his head for roughly half a century, and which he had used to justify his support for financial deregulation and other conservative policies, such as tax cuts.

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