Alan Greenspan's Impact on the Economy

Topics: Chairman of the Federal Reserve, Federal Reserve System, Gold standard Pages: 2 (682 words) Published: August 11, 2010
Alan Greenspan has transformed his role from a dictator of Economic Advisors to a participative leader of the Federal Reserve. Integrity, transformational leadership, and CII Leadership style demonstrate his leadership. These factors among others helped him to achieve the role of being one of the most powerful men in America, Federal Reserve Chairman.

In the process of becoming chairman, Greenspan has become one of the most influential leaders in the world. Traits that show this influence are his integrity, intelligence, and self-confidence. Perhaps his most important characteristic, Greenspan’s integrity has pushed him to become the leader he is today. An example of this came in 1974 when he refused to take the job of Chairman of Economic Advisors. Greenspan was convinced that he could not make it in government because he did not always agree with policy. Greenspan later chose to accept the position after he realized that he could make a difference and bring truth to the government. Had it not been for his integrity, Greenspan would have declined to take the position. See Passage 1. After becoming Chairman of the Council of Economic Advisors, he also demonstrated his integrity by discussing problems without regard for policy or the conventional way of thinking. For example, he spoke up against the Nixon administration for over estimating the GNP in 1971. Eventually the budget was proved to be inflated as Greenspan had predicted. He also criticized the president’s wage and price controls because he believed that it would have had a negative effect on the American people. Greenspan’s relentless pursuit for truth and the well being of the American people has characterized his integrity and leadership.

Despite his great leadership traits, Alan Greenspan has become known for his transformational leadership. As Federal Reserve Chairman, he is outspoken and courageous with his opinions. His ability to deal with complexity and uncertainty is trademark of his...
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