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Sachs pins blame on Greenspan

Geoff Riley

22nd March 2008

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The easy money policies of the early years of this decade are one of the root causes of the credit crunch according to an article by Jeffrey Sachs in today’s Guardian. “Much blame for the current economic turmoil can be placed squarely at the door of Alan Greenspan and the Fed…Monetary expansion generally makes it easier to borrow, and lowers the costs of doing so, throughout the economy. It also tends to weaken the currency and increase inflation. All of this began to happen in the US.”

The rest of the article is here

Credit crunch mind map

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD and Revision conferences in the UK and overseas.

@tutor2uGeoff

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