Economics

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Alan Greenspan, architect of the modern American economy, dies aged 100 (www.bbc.com)

submitted 1 day ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Former US Federal Reserve chair Alan Greenspan has died aged 100, his wife has said.

NBC News correspondent Andrea Mitchell said in a statement reported by her employer that her husband had died from complications of Parkinson's Disease.

Mitchell's statement said Greenspan was "a giant of a man who helped shape the US economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes".

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[–] Snapz@lemmy.world 2 points 1 day ago

"In 1952, Greenspan met the right-wing novelist and social philosopher Ayn Rand, whose views were to have a profound influence on him.

She called him "the undertaker" because of his liking for dark, sombre suits.

But the young economist came to support her belief that society functions most efficiently when people actively pursue their own self-interests, to the exclusion of the interests of society as a whole."