Economist

Alan Greenspan

Alan Greenspan

Born:

Alan Greenspan, who is an American economist born on March 6, 1926, In New York City, U.S.

Family Background:

He is the son of Herbert Greenspan, who was Romanian Jewish and his wife Rose Goldsmith, who was Hungarian Jewish. His father worked as the Market analyst in New York City.

Personal Life:

Alan married twice. first, he married to Canadian Artist Joan Mitchell in 1952, They divorced within a year. In the 1970s, He dated newswoman, Barbara Walters. In 1980, He again dated Journalist Andrea Mitchell, who has no relation with his first wife. In 1997, They married.

Education:

In 1940, He entered the George Washington High School. From 1943 to 1944, He attended the Juilliard School. In 1945, He enrolled at New York University to Obtained the B.A degree in economics. In 1950, He entered in the Columbia University, Where he received the M.A degree. In 1977, He obtained the Ph. D degree from the New York University.

Career:

He worked under Eugene Banks at the Wall Street investment bank during his graduation in New York University. From 1948 to 1953, He worked at ‘The National Industrial Conference Board’ as an economist Analyst. He had become a partner with William Townsend in the consulting firm, ‘Townsend-Greenspan & Co., Inc.’, In 1954. In 1968, He had introduced to Richard Nixon by a friend and had helped Nixon during his presidential election campaign. In 1981, He was appointed the chairman of the newly constituted National Commission on Social Security Reform by President Reagan. In 1987, After the resignation of Chairman Paul Volcker. Reagan had appointed Alan as a Chairman of the Board of Governors of the Federal Reserve. In 1991, Greenspan was nominated for a second term as Fed chairman and for a full 14-year term as a member of the Fed’s Board of Governors by President Bush, which was confirmed by the Senate.

Unknown Facts:

  • He had studied music with an accomplished musician.
  • On June 2, 1987, He was nominated to be chairman of the Federal Reserve.

Master Stroke:

  • Greenspan who had just taken over command at the Fed, acted quickly to ensure liquidity in the markets, In 1987, when ‘The Dow Jones Industrial Average’ fell a record 508 points.

Awards and Achievements:

  • In 2000, He received the Commander of the Legion of Honour.
  • In 2002, He received the Knight Commander of the Order of the British Empire.
  • In November 2005, He honored the Presidential Medal of Freedom by the president George W. Bush.

What can we learn from him??

Like Alan Greenspan, make yourself your leader and do work under your leadership.

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