10 Questions for Alan Greenspan

The former chairman of the Federal Reserve on fear, loathing and his favorite dance

Peter Hapak for TIME

Why is your new book called The Map and the Territory ?
The map is supposed to be the conceptual framework of the world. The territory is the real world, and they don't always square. I'm trying to figure out what has been going on which I didn't understand.

What is the biggest change of mind you've had since 2008?
It changed [when Lehman Brothers collapsed] on Sept. 15. Most basic economics up to that point was based on the presumption that human beings are rational in that they look after their long-term self-interest. My real shock was that what...

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