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The Age of Turbulence
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New or Used: 2 copies from $4.94
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.
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About the Author

Alan Greenspanwas born in 1926 and reared in the Washington Heights neighborhood of New York City. After studying the clarinet at Juilliard and working as a professional musician, he earned his B.A., M.A., and Ph.D. in economics from New York University. In 1954, he cofounded the economic consulting firm Townsend-Greenspan & Co. From 1974 to 1977, he served as chair of the Council of Economic Advisors under President Gerald Ford. In 1987, President Ronald Reagan appointed him chairman of the Federal Reserve Board, a position he held until his retirement in 2006. He is the author of the number one"New York Times"bestseller"The Age of Turbulence.""

Reviews

Greenspan, best known for his long tenure as chair of the U.S. Federal Reserve Board (the Fed), shares with listeners the story of his life, albeit in a rather reserved fashion, and his craggy wisdom and insights into the state of today's global economy. Greenspan divides his material into two parts. In the first part, he offers a fascinating look into his early youth in New York, budding musical talent (on clarinet and saxophone) during the big-band era, lengthy formal education at New York University, and, most important, unique insider's perspective on the Fed during his tenure. In the second part, he includes his analysis of today's current affairs and global economy, revealing his view of the universals of economic growth, his perspective on the economies of today's major countries and regions of the world, and his take on how current economic trends will play out in the future. The deep bass narration by Robertson Dean nicely fits the seriousness of the material, although some listeners may need a few moments to adjust to the monotone delivery. The scholarly, densely packed style of the material may also result in calls for the best-selling hardcover edition. Nevertheless, this is highly recommended for larger public libraries and academic libraries supporting a business and economics curriculum. [Penguin Audio also has a version available: 9 CDs. abridged. 11 hrs. 2007. ISBN 978-0-14-314260-7. $34.95.--Ed.]--Dale Farris, Groves, TX Copyright 2008 Reed Business Information.

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