Because perhaps Mallaby’s greatest lesson is that economic statesmanship, like political statesmanship, is the art of the possible.
A close reading of Greenspan’s life provides fascinating answers to these questions, answers whose lessons we would do well to heed. He knew more than almost anyone the question is why he didn’t act, and whether anyone else could or would have. To argue that he didn’t know the risks in irrational markets is to miss the point. He had pressed for greater regulation of some key areas of finance over the years, and had gotten nowhere. Mallaby argues that the conventional wisdom is off base: Greenspan wasn’t a naïve ideologue who believed greater regulation was unnecessary.
Mallaby’s story lands with both feet on the great crash which did so much to damage Alan Greenspan’s reputation. His memoirs sold for record sums to publishers around the world.īut then came 2008. At his retirement in 2006, he was lauded as the age’s necessary man, the veritable God in the machine, the global economy’s avatar. In his analysis, and in his core mission of keeping inflation in check, he was a maestro indeed, and hailed as such. A fire-breathing libertarian and disciple of Ayn Rand in his youth who once called the Fed’s creation a historic mistake, Mallaby shows how Greenspan reinvented himself as a pragmatist once in power. This led to a perch on the White House Council of Economic Advisers, and then to a dazzling array of business and government roles, from which the path to the Fed was relatively clear. A master at explaining the economic weather to captains of industry, he translated that skill into advising Richard Nixon in his 1968 campaign. Greenspan’s life is a quintessential American success story: raised by a single mother in the Jewish émigré community of Washington Heights, he was a math prodigy who found a niche as a stats-crunching consultant. Stone also probes the evolution of Bezos himself-who started as a geeky technologist totally devoted to building Amazon, but who transformed to become a fit, disciplined billionaire with global ambitions who ruled Amazon with an iron fist, even as he found his personal life splashed over the tabloids.ĭefinitive, timely, and revelatory, Stone has provided an unvarnished portrait of a man and company that we couldn’t imagine modern life without. In Amazon Unbound, Brad Stone presents a deeply reported, vividly drawn portrait of how a retail upstart became one of the most powerful and feared entities in the global economy. We live in a world run, supplied, and controlled by Amazon and its iconoclast founder.
#Amazon unbound plus
Between services like Whole Foods, Prime Video, and Amazon’s cloud computing unit, AWS, plus Bezos’s ownership of The Washington Post, it’s impossible to go a day without encountering its impact. Jeff Bezos’s empire, once housed in a garage, now spans the globe.
Since then, Amazon has expanded exponentially, inventing novel products like Alexa and disrupting countless industries, while its workforce has quintupled in size and its valuation has soared to well over a trillion dollars. We live in a world run, supplied and controlled by Amazon.Almost ten years ago, Bloomberg journalist Brad Stone captured the rise of Amazon in his bestseller The Everything Store. Amazon provides us opportunities to shop, entertain, inform, communicate, store and, one day, maybe even travel to the moon.
#Amazon unbound software
Between Amazon's forty subsidiaries - like Whole Foods Market, Amazon Studios in Hollywood, websites like Goodreads and IMDb, and Amazon Web Services cloud software unit, plus Bezos's purchase of the Washington Post - it's almost impossible to go a day without encountering their goods. Whereas Amazon used to sell only books, there is now little they don't sell, becoming the world's largest online retailer and pushing into other markets at warp speed. In less than ten years, Amazon has quintupled the size of its workforce and increased its valuation to well over a trillion dollars. Since then, its founder has led Amazon to explosive growth in both size and wealth. With the publication of The Everything Store in 2013, Bloomberg journalist Brad Stone revealed how the unlikely Seattle start-up Amazon became an unexpected king of eCommerce.
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