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One of the most influential central bankers in U.S. history, Alan Greenspan, who chaired the Federal Reserve for 19 years, died on June 22. He was 100.

Greenspan was once treated as an oracle whose policies and arcane pronouncements moved markets. After the '08 crash, however, his legacy was badly tarnished because he had embraced a quasi-religious faith in markets to regulate themselves — a fantasy that led to ruin shortly after he departed the Fed.

Our guest is historian Nelson Lichtenstein, the author of A Fabulous Failure: The Clinton Presidency and the Transformation of American Capitalism.