The Age of Turbulence: Adventures in a New World

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The Age of Turbulence: Adventures in a New World
by Alan Greenspan

"I started thinking about what was to become “The Age of Turbulence” two years ago. My nearly two decades as Federal Reserve Chairman were coming to an end - a remarkable experience. After a lifetime observing how the world works as a business economist on Wall Street, it was exhilarating to be at the center of international monetary policymaking. Sure, I’d been President Ford’s White House economic advisor in the mid-1970s, but nothing fully prepared me for what I faced when President Reagan nominated me Fed Chairman in June 1987. So, in the waning months of my Fed tenure, I started getting excited about having time to stand back and think about all I’d been through – the frightening stock market crash of 1987, the boom of the 1990s, the trauma of 9/11, the climactic end of the Cold War, all told, a cascade of events propelling a new world forward at warp speed.

There was also a personal story to tell. I’d known every president from Richard Nixon to Reagan, Ford, Bill Clinton and George W. Bush. And what about all those other assorted characters from my childhood in New York, my years as a jazz musician, my complete career switch to economics – and my friendship with Ayn Rand? I wanted to make the leap from writing economic analysis to writing in the first person about what I’d experienced. And after years of talking “Fedspeak” in carefully calibrated congressional testimony – I could finally use my own voice!"

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