“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."
Monday, September 17, 2007
Alan Greenspan was Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006. He talked and few could quite figure out what he was saying. That was mostly a good thing. I loved finding him on c-span late at night. I could turn him on and be assured of a rapid return to sleep. Then he retired. Except no one retires anymore. They write a book. Alan Greenspan seems to be determined to become the Jimmy Carter of ex fed chairmans. That is too bad. No good can come out of his jabbering for the country or the market. Some people do not know when to just shut up. Alan Greenspan is one of them.