The Age of Turbulence - Adventures in a New World
In the immediate aftermath of September 11, 2001, in his fourteenth
year as Chairman of the Federal Reserve Board, Alan Greenspan took part
in a very quiet collective effort to ensure that America didn't
experience an economic meltdown, taking the rest of the world with it.
There was good reason to fear the worst: the stock market crash of
October 1987, his first major crisis as Federal Reserve Chairman,
coming just weeks after he assumed control, had come much closer than
is even today generally known to freezing the financial system and
triggering a genuine financial panic. But the most remarkable thing
that happened to the economy after 9/11 was...nothing. What in an
earlier day would have meant a crippling shock to the system was
absorbed astonishingly quickly.
After 9/11 Alan Greenspan knew, if he needed any further reinforcement,
that we're living in a new world - the world of a global capitalist
economy that is vastly more flexible, resilient, open, self-directing,
and fast-changing than it was even 20 years ago. It's a world that
presents us with enormous new possibilities but also enormous new
challenges. The Age of Turbulence is Alan Greenspan's incomparable
reckoning with the nature of this new world - how we got here, what
we're living through, and what lies over the horizon, for good and for
ill-channeled through his own experiences working in the command room
of the global economy for longer and with greater effect than any other
single living figure. He begins his account on that September 11th
morning, but then leaps back to his childhood, and follows the arc of
his remarkable life's journey through to his more than 18-year tenure
as Chairman of the Federal Reserve Board, from 1987 to 2006, during a
time of transforming change.
Alan Greenspan shares the story of his life first simply with an eye
toward doing justice to the extraordinary amount of history he has
experienced and shaped. But his other goal is to draw readers along the
same learning curve he followed, so they accrue a grasp of his own
understanding of the underlying dynamics that drive world events. In
the second half of the book, having brought us to the present and armed
us with the conceptual tools to follow him forward, Dr. Greenspan
embarks on a magnificent tour de horizon of the global economy. He
reveals the universals of economic growth, delves into the specific
facts on the ground in each of the major countries and regions of the
world, and explains what the trend-lines of globalization are from
here. The distillation of a life's worth of wisdom and insight into an
elegant expression of a coherent worldview, The Age of Turbulence will
stand as Alan Greenspan's personal and intellectual legacy.
Book on Amazon.com:
http://www.amazon.com/Age-Turbulence-Adven...95380806&sr=1-1
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