Economics of Bahuka and Greenspan

Any discussion on contemporary US economy will remain incomplete without reference to Alan Greenspan, who headed the US Fed for 19 years till 2006, and was revered as the ‘Money God'. In 2007, he wrote a book, The Age of Turbulence, in which he theorised that people in developing economies needed to save, but, not those in advanced economies, because they enjoy state-provided social security.

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