KABOOM! The Person Economists Blame Most For Blowing Up The Global Economy Is Alan Greenspan

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Earlier this month, the Real World Economics Blog took votes on which economist should be blamed for blowing up the global economy.

The winner of the aptly-named Dynamite Prize in Economics was Alan Greenspan with 5,061 votes.

As Chairman of the Federal Reserve System from 1987 to 2006, Alan Greenspan both led the over expansion of money and credit that created the bubble that burst and aggressively promoted the view that financial markets are naturally efficient and in no need of regulation.

Milton Friedman claimed second place with 3,349 votes. He was credited with propagating the notion that the economy can be accurately modelled using counterfactual propositions.

Larry Summers came in third with 3,023 votes and was credited with the repeal of Glass-Steagall.

For the full results and to nominate economists for the next prize — the Revere Award in Economics for foreseeing the crisis — head to Real World Economics.

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