Christopher Coker

The Economist’s Progress

The Age of Turbulence

By

Allen Lane / The Penguin Press 513pp £25 order from our bookshop

‘This book is in part a detective story’, writes Alan Greenspan. It is an attempt, he adds, to understand the nature of the global capitalist economy and why it has become vastly more flexible, resilient, open and self-correcting than it was even a quarter of a century ago. On 9/11 he knew, if this view needed further reinforcement, that the world was changing fast.

The book opens with the author flying back to Washington from a routine bankers’ meeting in Switzerland on the very day that the terrorists struck in New York. For the next few weeks, as President of the Federal Reserve, he had to concern himself with managing the consequences of disruption to the American economy, and by implication, the rest of the world. The events of 9/11 brought home to him how fragile our globalised economies are and how threatened the lifestyles to which we have grown accustomed. Greenspan uses his own life story, and his experience at the Fed, to explore how we have reached this state. 

Follow Literary Review on Twitter

  • Last Tweets

    • Something of an 'eccentric billionaire’s hobby': reviews 'The Space Barons: Elon Musk, Jeff Bezos, and… ,
    • "At the age of fifteen, drunk on stolen Chardonnay or stoned on pot at a swimming party, the thoughts that come imm… ,
    • For the latest Bookends, here's Alan Taylor musing on his stint as an assistant librarian. ,
    • A ‘pretentious ass and impotent arriviste’ who surrounded himself with ‘degenerates, hooligans, childish layabouts,… ,
    • . reviews 'Aristotle’s Way: How Ancient Wisdom Can Change Your Life' by ,
    • "As Beevor shows, it was one of the most daring, dangerous and fiercely fought operations of the whole war. It was… ,
    • "The characters are very rich and very male, with astronomical ambitions. The potted biographies in this book sugge… ,