It took me almost 6 month to complete this book, 505 pages, poof, finally…
With his uncompromised historical responsibility, Alan Greenspan has penned down a quarter century of American history in the least decorated way, if not the humorous way.
It is a book articulates rich understanding of various economic, financial and social topics. He has illustrated in depth analysis around the world, from socialism root in India, to collapse of USSR, to rising Chinese super power, to education system in U.S, to central bank policies in Japan. I have little doubt that Mr. Greenspan’s exceptional amount of knowledge and understanding would even surprise the natives of those foreign countries. Capitalism, communism, income inequality, technology advancement, he has explain thoroughly every sensible force of our economic growth.
During his presidency in the Federal Reserve in the United States, he has accompanied the most presidents and eye witnessed numerous historical events like: Watergate, price control, Clinton Scandal etc. The 500 pages have inscribed 20 years of central American history in rare details. Mr. Greenspan has vividly described the profound political impact of each event on the people stay inside White House. It is an untainted picture of contemporary American history. As one of the most influential person in finance, he didn’t believe that heavy, complex regulations would create an efficient market as most rhetoric populist would yearn for; Instead, he does believe in free market and counter party surveillance as the most effective safeguard of quality of living.
To facilitate his prominent role on global stage, he has accumulated insurmountable amount of knowledge in culture, history, politics and human behavior etc.
He also takes us to his “unromantic honeymoon” in the century old beautiful Venice, where perfectly engraved people’s reluctance for change and prone to certainty. Mr. Greenspan revealed that what people fuss about the thickness of his suitcase has nothing to do with economic status but a mere function of whether he has brought his lunch box.
At the end, he tried, in the most modest way, to predict our economic outlook after 20 years. He has also raised his concern about the future and his opinion about certain economic factors like rising oil price, large American current deficit, political unsettlement and so on.
It must be one of the most wonderful economic books after “General Theory of Employment, Interest and money”. It reached far beyond just economics, far beyond the horizon of our time, into the past as well as future.