During the Great Moderation, right-wingers were generally economic optimists and left-wingers tended to be economic pessimists.
The Great Moderation must have been too close for us to realize its unique excellence.
What put the great in the great moderation was not necessarily the rate of growth.
After all, the Great Moderation began with a series of free-market economic reforms tax cuts, deregulation, tight money.
But the Great Moderation is called just that because of its singular smoothness, in particular the shallowness of its recessions.
Chairman Volcker and the early years of Chairman Greenspan implemented a proxy for the gold standard called the Great Moderation.
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In its latter stages, the Great Moderation (that of the George W. Bush presidency) saw some further tax cuts, but a complete reversal on spending.
First the supply-side economics of the Great Moderation proved superior to Keynesianism, producing good growth without the bouncing around that somehow did bedevil the Keynesian era.
If wiser central bankers have indeed played a big role in the Great Moderation, it is sobering to think how easily the dangers of lax monetary policy might be forgotten.
The Great Moderation is now also known as the Great Stagnation, when productivity growth slowed down to a crawl and it now appears, post-Financial Crisis, that much of the economic growth of that era was illusory.
You can also see the impact of the Volcker policies at the end of the 1970s, breaking the back of inflation and ushering in the Great Moderation of low inflation, low interest rates and low unemployment.
The ready lesson to be taken from the Great Moderation is that the single greatest era of good, stable growth in the modern era occurred in an environment where the governmental sector was if not in retreat, then in a posture of self-criticism and restraint.
The Greenspan Great Moderation provided a context for over a decade of solid growth.
Mr Weidmann said the period in the 1980s and 1990s during which central banks around the world had been made independent had heralded a period of "great moderation" during which inflation fell.
In fact, the history of such killings is so long, their number so great, and the definition of collaboration so elastic (often just moderation toward the Jews) that it may not be too much of a stretch to say that the current population of Gaza and the West Bank has been as much radicalized by Arab violence as by Israeli.
With the Arab Spring came a great deal of hope that there would be a change towards more moderation, an opportunity for greater participation on the part of women in public life and in economic life in the Middle East.
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