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Never even took economics in school, but Greenspan talks about the economic history of America since he began his career after World War II. Fascinating even if you don't understand it all. Explains how capitalism really works, why it's the best system in the world so far, and what it is that keeps thirdworld countries so destitute (hint: unenforced property rights). The last chapter explains how gross domestic product is increasingly based on intellectual property rights, and what that means for our future.
7 of 7 people found this review helpful
If you are not very familiar with macroeconomics and would like to know Alan Greenspan's take on economic forces, principals and issues of modern times, this is a great book. You will find plenty of historical examples, future projections as well as eloquently explained economic and political relationships and trends that shape our world as we know today. Just as interesting is the authors' opinion of many prominent public figures he met during his career.
The book is intended to be an "easy read" for an average reader, so do not expect it to be of much academic value or any in-depth research/analysis that can be used for, say, investment purposes.
The narration is excellent, arguments are persuasive and easy to follow, the amount of material covered is also quite substantial.
Ideally, I would suggest this book to an average voter who wants to understand the economic impact of various public policies. Policies like "more taxes for the rich", "more power to the unions", "deport immigrants", "erect a trade barrier with China", "freeze gasoline prices" not only have a profound economic impact (mostly negative) on everybody, but also have a long history of prior attempts that we can learn a lot from.
Lastly, as much as Greenspan tried not to come across this way, but he surely seems to be riding a rather high horse. His opinion of self-importance and self-righteousness could use a trim..
15 of 16 people found this review helpful