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Alan Greenspan. The Oracle Behind the Curtain by E.Ray Canterbery
Alan Greenspan. The Oracle Behind the Curtain by E.Ray Canterbery
There are countless glowing testimonials about Alan Greenspan and the Fed. This is a result of Greenspan’s political interference, politicians’ unwillingness to criticize the Federal Reserve, the press’ readiness to exchange favorable coverage for access, and private economists who have aspirations to become Fed governors. With Greenspan’s impending retirement, the negative consequences of Fed policy are becoming more severe. Institutional improvements are advocated, but it is demonstrated how they have been thwarted by an ideology that favors financial wealth holders above wage labor. The widely regarded author of Wall Street Capitalism and A Brief History of Economics presents a thought-provoking new book that offers a much-needed contrast to the legendary distortions of Alan Greenspan. Canterbury demonstrates how Greenspan’s fundamentalist market ideology trumps reason when determining economic policy. In spite of Greenspan having his way with practically every significant economic and social issue influencing the global economy since the Ford Administration, he paints a picture of a Fed selfishly defending its political independence. This book exposes the secret power centers that allow the Fed sweeping control over the world economy. It also explains why it is so crucial to comprehend these energies as well as why they are resistant to restraint.
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