Greenspan: The Man Behind Money Essay

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 book about President Franklin D. Roosevelt's New Deal and the state of the economy. The book had the following inscription: "May this my initial effort with a constant thought of you branch into an endless chain of similar efforts so that at your maturity you may look back and endeavor to interpret the reasoning behind these logical forecasts and begin a like work of your own. Your Dad." (4) This would eventually become Greenspan's mission in life. Although he saw his father few times during his adult life, his father surely new of his son's success through all of the media attention Greenspan received over the years.

Greenspan was influenced by his mother, books, and by mentors in his life. While in attendance at Columbia University, Greenspan took a seminar on business cycles, taught by Arthur Burns. On the first day of class, Professor Burns asked the following question, "What causes inflation?" then said, "Excess government spending causes inflation." Greenspan having read John Maynard Keyne...


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...strife of the poor was received with boo's and anger. He quickly realized the insensitivity of what he had said and apologized. The book mentions that from his educational background, work experience, and his time at his Economic firm Alan Greenspan was destined to become Chair of the federal reserve, but regardless of the career he had chosen, it seems that Greenspan was destined to succeed-period. After reading this book, I am not only thoroughly impressed by Chairman Greenspan, but I also understand Economics from a historical standpoint and its affect on my life-past, present, and future. Justin Martin went to great lengths to, in detail, explain the principles behind economics in such a way that made it easy to understand and enjoyable to read.

Works Cited

Martin, Justin. Greenspan: The Man Behind Money. Cambridge, Massachusetts: Perseus Publishing, 2000.

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