Age of Turbulence: Adventures in a New
World" is a memoir by the former
Chairman of the Federal Reserve, Alan
Greenspan. His time as Fed Chairman lasted
nearly twenty years, from 1987 through
to 2006. In his autobiography he shares
more about his personal life, growing
up in New York, and the current condition
of the global economy and where we may
In the words of the man himself, about
his book, Greenspan said "After a
lifetime observing how the world works
as a business economist on Wall Street,
it was exhilarating to be at the center
of international monetary policy making.
Sure, Id been President Fords
White House economic advisor in the mid-1970s,
but nothing fully prepared me for what
I faced when President Reagan nominated
me Fed Chairman in June 1987. So, in the
waning months of my Fed tenure, I started
getting excited about having time to stand
back and think about all Id been
through the frightening stock market
crash of 1987, the boom of the 1990s,
the trauma of 9/11, the climactic end
of the Cold War, all told, a cascade of
events propelling a new world forward
at warp speed."
After explaining who the real Alan Greenspan
is and how he grew up, he moves on to
talking about the economy and the current
global challenges that are facing it.
He then moves on to talk about public
policy in the United States and the mistakes
that the current Republican administration
have made and continue to make. Greenspan
has been a Republican all his life, but
that didn't stop him from harshly criticizing
the George W. Bush led government. He
says the government abandoned fiscal discipline,
increased the US budget deficit to unreasonable
levels, and the Republicans deserved to
lose the congressional elections in 2006.
One quote from the book quickly spread
throughout all forms of media, all around
the world. Greenspan says "I am
saddened that it is politically inconvenient
to acknowledge what everyone knows: the
Iraq war is largely about oil."
Of the six presidents Alan Greenspan worked
with over the years, he says that Bill
Clinton most impressed him. The Republican
economist says the Democratic president
had a "consistent, disciplined focus
on long-term economic growth."
One could argue that the book gets too
political at times, especially since the
man was an economist and not a politician,
but one could also argue that money and
politics are close bedfellows that are
difficult to separate.
The Age of Turbulence
(Republican party) swapped principle
for power. They ended up with neither.
They deserved to lose." Alan
early training was to immerse myself
in extensive detail in the workings
of some small part of the world and
to infer from that detail the way that
segment of the world behaves. That is
the process I have applied throughout
my career." Alan
am saddened that it is politically inconvenient
to acknowledge what everyone knows:
the Iraq war is largely about oil."
Age of Turbulence Book Contents
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