Greenspan: The Man Behind Money Essay

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Greenspan: The Man Behind Money In Justin Martin's book Greenspan: The Man Behind Money, the life of Dr. Alan Greenspan, a man whose expertise in economics has dramatically influenced the state of the U.S. economy, is told from a historical perspective and in a semi-chronological order. Alan Greenspan grew up in New York City's Manhattan. After his parents divorced he went to live with his mother and her parents. Greenspan's father rarely visited, yet when he did, Greenspan was extremely happy. This detail struck an emotional cord in that it was evident Greenspan strived to succeed not only for himself but also for the approval of his father. Greenspan's father was a NY Stock Broker and published a book entitled, Recovery Ahead, a…show more content…
Greenspan began moving away from the benevolent government perspective, toward laissez-faire and limited government. (29). That was the time when Greenspan was taking in as much information as he could, eager to learn and come up with his own theories later. When Greenspan joined Ayn Rand's: the objectivists group, it seems like he was influenced by new thought and ideas in general. His meetings with the group allowed him to expand his philosophies and to hear the perspective of those he viewed as intellectuals. Ironically, one of the discussion topics was, "The futility and destructiveness of central banks." (42). Ayn Rand was radical in her views, but Greenspan seemed to respect her perspective and defended her over the years, from public criticism. The objectivists held that capitalism was the key to a successful economy. They were strong supporters of a free-market economy and laissez faire-opposing any government intervention. They were particularly against the central bank and during this period, Greenspan wrote several essays, collected in a book called, Capitalism: The Unknown Ideal where he criticized the Federal Reserve, argued for a pure gold standard, and expressed his philosophical objections to antitrust laws. These essays came back to haunt him during his nomination for Chairman of the Federal Reserve, when the Congress questioned him about his past with the objectivists. In Greenspan: The

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