Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy

by Ravi Batra

For two decades Federal Reserve Chairman Alan Greenspan has held reign over economic policy, outlasting three presidents. His long tenure has had a profound effect on global economics and on individuals. In this hard-hitting exposé, international bestselling author Ravi Batra takes sharp aim at Greenspan's policies since he came into power. Greenomics, Batra argues, has extracted trillions of dollars from the American middle class and sharply benefited the rich, while protecting big business. Batra proves that Greenomics has also been responsible for periods of irrational exuberance, and exposes the wild inconsistencies in his social security plans. Greenspan's Fraud explores Greenspan's influences and motivations and the discrepancies between his words and actions, while revealing how his policies have national and global impact.

Genres: Economics

288 pages, Hardcover

First published January 1, 2005

About the author

Indian-American economist, author, and professor at Southern Methodist University.

Batra is the author of six bestselling books of which "The Great Depression of 1990" reached #1 on the New York Bestsellers list in 1987.

In his works, Batra proposes an equitable distribution system known as Progressive Utilization Theory (PROUT) as a means to not only ensure material welfare but also to secure the ability of all to develop a full personality.

Reviews

[Mike · Rating 5 out of 5]

A very scathing report on "Trickle Down Economics" and it's repercussions over the last 30 years.

One of the most important books about economics that I have read.

Batra really has an innovative way of seeing how economics really affects the middle class.

I must read for anyone that wants to get a different perspective on economics.

[Charnveer Gosal · Rating 3 out of 5]

skimmed through

[Ridzwan · Rating 3 out of 5]

With a career spanning two decades and 3 presidents, fomer Federal Reserve Chairman Alan Greenspan is undoubtedly the most influential personality in the history of American economics. Often times stock market indices around the world would rise and fall at the breath of his words. Stranglely, this continues on till today, despite the man having left the job for a considerable amount of time.

But the legendary figure's reign is not without contreversy. The work, aptly titled Greenspan's Fraud, is perhaps the most vocal critique that has been compiled to date. Written by Economics Professor Ravi Batra from the Southern Methodist University of Dallas, it details the rise and rise of Alan Greenspan's career, his influence and his policies till the day he resigned.

Batra argues that Greenspan has extracted trillions of dollars from the American middle class. All this has been done while solidly protecting the rich through measures that have been deliberately engineered.

Dubbed "Greenomics", Batra also lays the case as to why Greenspan has unwittingly initiated several economic crashes that has affected millions of lives around the world. For example just before the dot-com mania that eventually fizzled out, Greenspan was documented as saying to President Clinton that "This is the best economy I have seen in 50 years" and did nothing to stop the mindless speculation that was consuming the market.

Though convincingly argued, some of the claims made in this 278-page hard cover seems amplified beyong the justifiable. For example, several of his critiques have not been acompanied by a more viable solution. Besides that, the writing stlye is hardly entertaining and more or less resembles the angry ramblings of a nagging professor that we have all come across in university. For that, I doubt that Greenspan's Fraud will join his list of best-sellers anytime soon.

However should you choose to overlook this literary annoyance, you might find a little eye opener here and there in Greenspan's Fraud.

[Jenika · Rating 4 out of 5]

I was surprised how far back and insidious the finger of
Greenspan has gone in our political and economic world as
well as the global population. I learned that Greenspan
affected our global economic debacle in which we are currently mired. I cannot totally lay it at the feet of Bush.
Deregulation is the precious baby of the wealthy and they need a Greenspan-like entity to keep it safe and thriving.

[Jack · Rating 3 out of 5]

important information about the genesis of the current economic situation. teach your children about this so they might be able to avoid it in the future, presuming we will get out of this mess. On the other hand, the writing was not anything to write home about.

[Greg Hoyle · Rating 4 out of 5]

fantastic look at Greenspan's dominace in economic policy for over three decades......and their subsequent failures......

[Majid Mohamed · Rating 5 out of 5]

Greenspan's policy created the financial crisis, directly or indirectly Greenspan involved in this.

[Jimmie · Rating 5 out of 5]

Greenspan = Greedomics. It is about the wage gap, stupid. I am the 99%!

[Steve · Rating 3 out of 5]

Trickle down economics attacked as something that doesn't work, rather the money is best spent in the hands of many within lower/middle class

[Quinn · Rating 3 out of 5]

This was an okay book. I think there are a lot more books out there on this topic that are a bit easier to understand and read.

[Khalid Khan · Rating 2 out of 5]

Always easier to make the call on hindsight.