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Innocent frauds in Greenspan's last testimony

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  • PHILIP ARESTIS
  • WARREN MOSLER

Abstract

This paper engages the last testimony of the Chairman of the Federal Reserve System, Alan Greenspan, before a joint session of Congress in July 2005. It identifies nine areas we relate to the arguments of John Kenneth Galbraith, summarized in his recent contribution, The Economics of Innocent Fraud, regarding the divergence between the innocent fraud of conventional wisdom in regard to economic and accounting realities.

Suggested Citation

  • Philip Arestis & Warren Mosler, 2006. "Innocent frauds in Greenspan's last testimony," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 28(3), pages 539-547.
  • Handle: RePEc:mes:postke:v:28:y:2006:i:3:p:539-547
    DOI: 10.2753/PKE0160-3477280309
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