Alan Greenspan's Finance Career Legacy
Greenspan's legacy in presiding over some of the best economic times in recorded American history is part of a growing debate. Was at economic genius or flat-out luck? What did the former Fed Chairman do right in his finance and economic polices? What did he flat out miss?
Economic Booms, Saving the Financial World
Greenspan is widely applauded for keeping interest rates low and having the two longest economic expansions in America's history (with only two mild recessions). Some have also credited his policies with saving the world economy from the stock market crashes of 1987 and 2000-01, and from Russia's default. Clearly, his finance and economics career has seen some prosperous in America. But was it all roses?Finance Flubs? The Economist Weighs In
Prominent periodical The Economist suggests that it is far too soon to be lumping accolades onto Greenspan. In an article entitled "Monetary Myopia," the magazine criticizes Greenspan's track record in allowing a stock market bubble and a housing bubble to grow. It points out that a negative household saving rate among Americans also foreshadows brewing financial trouble.Ultimately, the periodical claims that Greenspan missed opportunities to deflate growing bubbles because of his resistance to raising interest rates; his somewhat laissez-faire attitude has created financial instability in the long term.
Online Economics or Finance Bachelor's Degree
Economics and finance can be unpredictable in their courses, but a university degree is a pretty sure path to a finance career. Long before online degrees, Greenspan earned a Bachelor's Degree, Master's Degree, and Ph.D. in Economics, so obviously he saw the importance of a university degree. Deciding between a finance degree or an economics university degree will depend on where you'd like to take your career. A business online bachelor's degree could be a good foundation as well if finance and economics are too specific, and you can always return to a university to get a master's degree in a specialized field later.After you've chosen your online finance bachelor's degree program, you may one day follow in Greenspan's footstep and influence the economics and finance decisions of not just the nation, but the world.
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About the Author
James Tolles is a freelance writer and holds two B.A. degrees, one in Creative Writing and the other in History.
