Alan Greenspan and The Age of Turbulence
July 16, 2008
Alan Greenspan was head of the Federal Reserve for eighteen and a half years. He has written an economic analysis of the new world that reflects on his life and careers and projects where we are going in a world economy.
I am not an economist or a business brain, but every year I try to stretch myself by reading a business or economics book. I worried about this book because I remember the media's assessment of "Fed-speak" coming from Greenspan when he would meet the media or Congress. This book is well written, clear in its analysis and explanations, and insightful in its suggestions. My cabinet and I read it together, discussing it at each meeting (we'll finish the discussions in August). We recommend it to anyone involved in the business world of today.
The first half takes a historical look at the events of the last forty years and decisions that impacted our economic condition. In the second half he provides more philosophical and economical discussions. After all, he was at the center of many decisions and policies since Nixon in one way or another. Topics include globalization (its here to stay), education (we've got to do better with elementary and secondary education), Europe,
Light summer reading? Maybe not, but a whole lot more readable than you would think and its insights go far beyond what reviewers give it credit for. He is positive about the future, but acknowledges the bumps he sees coming. Enjoy.