This September, Greenspan published a memoir of his experiences in the world of economics entitled The Age of Turbulence. Greenspan calls his book a “detective story”, and he received an advance of more than $8 million from his publisher. The Age of Turbulence is certainly one of the most important books of the year, and required reading for anybody who wants to stay on top of economic affairs.
The Age of Turbulence is divided into two parts. The first half is a memoir that traces Greenspan’s rise from student to jazz musician to the world's most powerful economist. We learn that Greenspan was the only child of divorced parent, and is an ardent student of math, music and baseball.
The second half of the book is an astute look into the economies of today and the future. Here Greenspan discusses of the current world situation and a prediction of what the economy will look like in the year 2030 while he outlines the rise of the modern global economy. The “maestro” discusses many different macro topics including stock market crashes, the rise of China, the transformation of Russia, economic populism in Latin America, energy, education, income inequality, the dot com and housing bubbles, and the effects of globalization. Reading the second half of the book one chapter at a time will give you time to reflect on the analysis.
I have enjoyed reading the Age of Turbulence which is why I am recommending it as a subject for you Discussion Board Post. The writing is direct and lively for an economist, and the paragraphs are short. Don’t worry there aren’t any graphs! Facts and statistics (positive economics) fill the pages, but Greenspan is not shy about giving his normative perspective on many of the macro issues that he discusses in the book.
I believe that reading the Age of Turbulence will make a lot of the ideas and concepts in your e-text come alive. Sharing the knowledge about macroeconomics that you gleaned from reading the book is preapproved as a Discussion Board post. If you decide to review the book for your Discussion Board post I would like you to concentrate on macroeconomic themes in the second part of the book: growth, recessions, inflation, globalization, deficits, etc. If you decide to review Greenspan’s book you will still need at least three references to key terms in your textbook, but you need not have any references to on-line sources. Your post should meet the minimum word requirement of one thousand words.