Actualis



October 2007
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Greenspan: a view from the inside

After nearly two decades as the ultimate Washington insider, Alan Greenspan has released a memoir of his life as past Chairman of the US Federal Reserve.


The Age of Turbulence: Adventures in a New World takes a look at the forces that shaped the US and world economy, from a man who had the ears of no fewer than four Presidents. Now 81, Greenspan offers few apologies but plenty of insight into the economic turbulence during his time at the Fed, from the Black Monday stock market crash in 1987 to the extraordinary economic boom of the 1990's, to the more recent boom and bust of the US housing market.

Born in an immigrant neighborhood in New York Greenspan got his education while working as a jazz musician. A close friend of novelist and philosopher Ayn Rand, he would eventually find himself in Washington, a top policy maker under Presidents Richard Nixon and Gerald Ford, taking the top job at the Fed in 1987.

Along with his unique perspective on the US economy, Greenspan also offers insight into each of the four Presidents he served under as head of the Fed; Ronald Reagan, George Bush Sr., Bill Clinton ("a fellow "information hound" who he praises highly), and George W. Bush. And he blames the current Republican administration for the budget deficits brought on by out-of-control spending, which could weaken the US economy and have an international impact.

Greenspan's unique position in the US economy and political scene over the last half century makes The Age of Turbulence a must read for anyone fascinated by the financial and political forces that continue to shape the modern American economy.



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