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Showing posts with the label alan greenspan

Book Review: Alan Greenspan’s The Map and the Territory

Alan Greenspan’s book The Map and the Territory-Risk, Human Nature, and the Future of Forecasting delves into the intricate nature of the economy and his life lessons on economic management. He discusses the nature of human decision-making as animal spirits, how uncertainty impacts choice, productivity as a measure of performance, and the advent of globalization. The book provides a general overview of the nature of the economic systems and the knowledge he has accumulated from it. For those who are in higher education they will appreciate the section on Education’s Gini. In the old days, professors worked with a few hundred students but online education is about to make the super professor. These are the professors that reach out and touch thousands of students at one time. The industry is in the process of making its way into the mainstream and developing new technology. Of course, the age old problem of variability in human behavior has not been resolved. Alan Greenspa

Book Review: Alan Grenspan-The Age of Turbulence

Alan Greenspan's book The Age of Turbulence: Adventures in a New World reached no.1 on the New York Times best seller list in 2007. The book appears to be one part autobiography and economic theory. His philosophical and economic approaches are spelled out between the pages. Through the work a reader should understand the nature and life of an important intellectual theorist within American culture. The New York Times states, " For a memoir from such a high-profile figure, it is surprisingly frank. Large parts of the book are downright entertaining. Its biggest failing — the reason it isn’t a great memoir — is Mr. Greenspan’s reluctance to be as forthright and penetrating about himself as he is about others " (Leonhardt, 2007). The first part of the book outlines his life from high school clarinet player, professional service, philosophical discussions, and through various employment positions leading to the Federal Reserve Chairman. He provides some wisdom for