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The Age of Turbulence: The first half of The Age of Turbulence is an autobiographical chronology of Greenspan’s life that shows readers the people and circumstances that helped shape and guide Greenspan—from hours of clarinet and saxophone practice to living-room philosophy with Ayn Rand.
Books by Alan Greenspan
The second half of the book retells several major economic events primarily within the United States that have occurred over the past half century. It details his economic endeavors and personal observations while serving under various U. The zlan half of the book also includes an analysis and brief history of major global economic constructs— Marxist communismpopulismand various mutations of market capitalism —along with Greenspan’s opinions about their relative merits and shortcomings.
Greenspan said that he wrote the book in longhand mostly while soaking in the bathtub, a habit he regularly employed since an accident inwhen tuebulencia injured his back.
In Greenspan’s view, free market capitalism is the economic approach that “trumps” other forms attempted thus far in human history.
His support of Adam Smith ‘s ” invisible hand “, i. He discusses the rapid historical growth of the U.
His support for market capitalism is not without criticism. This includes the anxiety often expressed within a society as ” creative destruction ” plays out.
Greenspan also decries the lack of quality public secondary education for the “masses”, particularly in mathematics and greenspn sciences, and how this problem contributes to the divergence of rich and poor within the United States. Greenspan’s criticisms of President George W. Bush include his refusal to veto new federal legislation, thus increasing spending with unprecedented ease.
Of turulencia the presidents with whom he worked, Greenspan praises Gerald Ford above all others, but also has high praise for Bill Clinton.
His opinion of Clinton’s governance was one which maintained “a consistent, disciplined focus on long-term economic growth”. The Economist considered the book to be “first-rate”, noting that “it engages on different levels: Friedman was largely praising of the book, describing it as “clearly written and easy to read and understand” and says that Greenspan is “forthright in sharing his views on not only policy issues but also the personalities of many of the people with whom he worked during his time in office.
His opinions frequently run counter to his well-known Republican political loyalties, which he also makes no effort to hide”. From Wikipedia, the free encyclopedia. Adventures in a New World Hardcover edition. Peter Petre Official Website. Retrieved December 7, The American Prospect, Inc.
The Age of Turbulence – Wikipedia