Establishment economists defended Greenspan despite the 2008 crisis

Evidence

But even there, Very Serious Economists sprang to his defense: “‘The notion that Greenspan could have generated a totally different outcome is naïve,’ said Robert E. Hall, an economist at the conservative Hoover Institution, a research group at Stanford.” — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 2035

Categorization

• XREF: connects to: Mainstream economists defended theory by scapegoating Greenspan-style market fundamentalism — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 700; The 2008 crisis discredited efficient-market economists in public policy debate — Mark Blyth, Austerity: The History of a Dangerous…, 158; Economists who enabled the 2008 crisis emerged without any institutional consequences — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 438 (+2 more)

Broader Connections

• Mainstream economists exonerated Bernanke while scapegoating Greenspan for the crisis #expands (0.85) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 512
• Mainstream economists defended theory by scapegoating Greenspan-style market fundamentalism #corroborates (0.82) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 700
• The economics profession used crisis theory as calculated doubt-pumping to defend orthodoxy #corroborates (0.80) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 665
• Economists who enabled the 2008 crisis emerged without any institutional consequences #corroborates (0.75) — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 438
• The 2008 crisis discredited efficient-market economists in public policy debate #contradicts (0.72) — Mark Blyth, Austerity, 158