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Essay / Research Paper Abstract
This 6 page paper takes a look at Alan Greenspan's policies and his role as chairman of the Federal Reserve. Why this man is applauded is evaluated. Economic theory and his policies are discussed. Relevant biographical information is included. Bibliography lists 7 sources.
Page Count:
6 pages (~225 words per page)
File: RT13_SA237Al.rtf
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Unformatted sample text from the term paper:
his perceived importance and that effect on consumer confidence. One thing is true. When Alan Greenspan talks, people listen. Greenspan is an economist, but he is not just any economist.
He is also the chairman of the Federal Reserve Board and is thought to be the second most powerful man in the United States ("Greenspan" PG). He has
been in charge of the seven-member board since 1987 and has fought to keep inflation down; he has also tried to increase consumer confidence (PG). Greenspan is also well
known to the public. Wall street watchers--include amateur traders, housewives and blue collar workers--wait to see what Greenspan will do, knowing full well it could affect their 401Ks or the
mortgage rate they will get at closing. A book about his life that recently surfaced is entitled Alan Shrugged, a parody of the title Atlas Shrugged by Ayn Rand,
a theorist with which Greenspan is enamored. Indeed, Greenspan gets a great deal of press and attention from the American people. The real question is why should this one economist
receive so much acclaim? While his role is relevant, it is a trust in Greenspan that seems to play a part in this issue. In understanding his importance, some biographical
information is useful. Alan Greenspan was born in 1926 and was raised by his mother and grandmother in New York City ("Greenspan" PG). His father was a self-educated stockbroker
and his mother was a lively woman who loved music and dance (Tuccille 6). Greenspan pursued an interest in music and after graduating Juilliard he spent a year
traveling as a saxophone and clarinet player in a band (PG). Between 1944 to 1948, Greenspan attended New York Universitys School of Commerce, and graduated with a degree in economics
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