The Age of Turbulence
Perhaps unavoidably, given the scope of the book, its conclusion does not quite succeed in pulling all the strands together. We are left with Greenspan’s warning that the fundamental forces that delivered the era of disinflation are starting to abate. — Read the complete FT review
The most remarkable thing that happened to the world economy after 9/11 was … nothing. What would have once meant a crippling shock to the system was absorbed astonishingly quickly, partly due to the efforts of the then Chairman of the Federal Reserve Board, Alan Greenspan. The post 9/11 global economy is a new and turbulent system – vastly more flexible, resilient, open, self-directing, and fast-changing than it was even twenty years ago. The Age of Turbulence is an incomparable reckoning with the nature of this new world – how we got here, what we’re living through, and what lies over the horizon, for good or ill, channelled through Greenspan’s own experiences working in the command room of the global economy for longer and with greater effect than any other single living figure.