Alan Greenspan, American economist obliged as chairman of the United States Federal Reserve from 1987 to 2006, was born on March 6, 1926. He is a highly educated economist and in his life he brought with it many years of experience from the world economy. People seek his advice and follow his judgments to develop the growth of the economy. He was the world's most powerful economic policymaker at the Federal Reserve for two decades. He currently works as a private consultant and provides consulting for businesses through his firm, Greenspan Associates LLC. He served a total of five terms under four presidents, from Ronald Reagan to George W. Bush. Since he became chairman of the Fed, the country's economy has shown many positive results. He did an extraordinary job. “The Age of Turbulence” and the humorous subtitle, “Adventures in a New World,” cover Alan Greenspan's history in government and economics, capitalism, and analysis of global economic construction, while also focusing on current and future issues of the global economy. It also provides insights into the intellectual foundations of his economic worldview. The book is divided into two distinct parts. The first part is a biography of Greenspan's life and career at the Federal Reserve, and the rest are essays on the major economic issues that will challenge governments in the coming decades. In this book Alan Greenspan discussed the housing bubble created by his policy of low interest rates and this policy affecting the US economy. Alan Greenspan is unquestionably committed to market forces, but his policy of low interest rates creates a housing bubble and recession in the economy. Many people think he is right in his decision, but sometimes people argue… middle of paper… with the surge in home prices and subsequent market collapse” (source 5). Therefore we can say that although Greenspan does so many things right for the US economy, his few mistakes have caused the financial crisis in the global economy. Alan Greenspan, famous economist and president of the Federal Reserve Bank, has developed new stimulating ways for the economy. At times his massive misdirection played a huge role in causing the recession, but in his career he also developed the growth of the US economy. Works Cited1. http://www.theguardian.com/business/2008/oct/24/economics-creditcrunch-federal-reserve-greenspan2. Greenspan's Bubbles: The Era of Ignorance in the Federal Reserve” by William Fleckenstein, Frederick Sheehan3. http://en.wikipedia.org/wiki/The_Age_of_Turbulence4. http://epress.anu.edu.au/agenda/015/02/mobile_devices/ch10.html5. http://www.cnbc.com/id/24016186