Employment rose continuously. Inflation did not rise. There is little evidence that he did. The first is that full employment is benign, something not to be feared but to be proud of, something to value and to defend. Moreover, as we learned in 1999, full employment accelerates productivity growth, so that high rates of growth tend to pay for themselves, for a while.
Full employment is, therefore, worth running risks for.
They also did untold damage to Al Gore in the recent presidential election. It is not the misbehavior of workers we should fear, but that of capitalists. The destabilizing effect of financial speculation can be tamed only by powerful regulation. Greenspan also could have lent his authority to stronger efforts by the Clinton administration and Congress to control banking excesses and to stabilize the international financial system. Instead he did nothing.