• • Mistakes were made, and sometimes admitted 
Robert J. Gregorio, Catholic Star Herald (Camden, NJ) The Virtue of Selfishness  Capitalism  Egoism  [Alan Greenspan] admitted to Congress last year that the bedrock foundation of his economic rationale was flawed. He had taken guidance from Ayn Rand, celebrated apologist of egoism (her 1964 title might give her away: “The Virtue of Selfishness”). It was his idea to deregulate the financial markets and allow them to regulate themselves because he thought that the banks’ self-interest would collectively police the whole apparatus. But give him credit for fortitude. He took ownership of his naive faith in lawless individualism. Digging out from the rubble of Vietnam and from today’s depression that has wrecked the lives of millions, it helps to hear such rare apologies from on high.     Share on Facebook