Greenspan: The Man Behind Money
Author: Justin Martin
List Price: $17.50
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ISBN: 0738205249
Publisher: Perseus Publishing (18 September, 2001)
Sales Rank: 254,324
Average Customer Rating: 4.31 out of 5
Customer Reviews
Rating: 5 out of 5
Excellent Read
Justin Martin has done an excellent job of bringing Alan Greenspan to life. The book is well written and reads like a novel. Greenspan is a fascinating character-- he was a professional jazz musician before he enrolled in NYU to study economics, and was later a member of Ayn Rand's inner circle. Martin does a wonderful job of describing these aspects of Greenspan's life, as well as his later years in Washington and as Chairman of the Fed. So many biographies these days are filled with nasty innuendo and hearsay. But it is obvious that this is a first-rate research job, with quotes and insights from people who have known Greenspan for years. Some of the most interesting commentary comes from Henry Kissinger (who grew up a few blocks from Greenspan in Washington Heights). As the market continues to fluctuate wildly, Greenspan assumes an even more important role in American society. Martin manages to describe some of his economic theories in a way that makes them understandable to a mass audience as well. I would recommend this book very highly to anyone who is interested in life, not just business. Greenspan is as interesting as any fictional character I have ever encountered, and Martin really brings him to life.
Rating: 3 out of 5
Quick Read on Greenspan's Life -- But Not Much Economics
Martin's biography of Alan Greenspan is a quick read for anyone interested in Greenspan's fascinating life. From his early career as a jazz musician, through his days as a millionaire businessman in Ayn Rand's inner circle, through his tenure as chairman of the Council of Economic Advisers, through his "wilderness years", and finally up to and including his current term as chairman of the Fed, this book is peppered with interesting vignettes. Some of these vignettes, however, detract from the focus of the book. Martin's research seems to have uncovered a multitude of stories about Greenspan's jazz colleagues, Ayn Rand, and other figures in Greenspan's life, which seemed less than necessary in telling Greenspan's story.
Readers only interested in the workings of the Federal Reserve Bank or the economics behind the decisions that Greenspan made in his life of public service are advised to find a different book. Although he does give a rough overview of what was at stake in each of the crises that Greenspan faced at the helm of the CEA and then at that of the Fed, Martin does not go into much economic detail. This omission perhaps makes the book more accessible, but the omission is disappointing, nevertheless.
Rating: 5 out of 5
A delightful read
Justin Martin's "Greenspan" -- from beginning to end -- is a delightful read. I was laughing over and over as the pages turned, and was disappointed upon running out of pages to read. Here is one humorous example (page 225), about Greenspan changed his seating position at the FOMC meeting table.
"Then there's the table flap. Since 1977, the FOMC has conducted its business around a twenty-seven-foot-long table fashioned out of Honduran mahogany, with a center section made of black granite. It weighs two tons. Since becoming Fed chairman, Greenspan had always sat at the head of this table. But in November 1998, attendees at one of the Fed's periodic public meetings noticed that he had moved to a spot in the middle.
"The hubbub began immediately. What did it mean? Was Greenspan sending a message about increased 'collegiality' at the Fed? Turns out the move was for the sake of acoustics. 'Given the speed of sound, the advice arrived too late and inadvertently we got behind the curve,' joked Greenspan, during a meeting of the Fed's Board of Governors."
I'd recommend this book to anyone interested in economics.
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