Greenspan Is a Supporter of the Gold Standard

In 1987 Greenspan replaces Volcker as head of the Federal Reserve and he's 100% supportive of what Volcker had done. He lets unemployment fall until you know in around the year 2000 unemployment is actually below 4% for the first time since the Vietnam War so like Greenspan is in a way a an anticipation of this new dovish turn in Fed policy which is another reason I see more like continuities than the people who think there's been a sudden change. If Greenspan saw any prospect of worker empowerment they would push back on wage rises or UAW contract negotiations, says John Avlon.