On Monday, the family of Alan Greenspan announced his death, citing complications from Parkinson's Disease as the cause. The 100-year-old was most famously the chair of the Federal Reserve, working under four different presidents for five terms during his tenure, according to NBC News.
Often credited with steering the country through one of our longest periods of economic expansion from 1991 to 2001, and just as often blamed for creating the conditions that led to the Subprime Mortgage crisis that began in 2007, Greenspan has had a storied career. Here are just some of the things that Greenspan accomplished during that time.
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According to the Federal Reserve History website, Greenspan began his financial career in 1948, when he joined the National Industrial Conference Board. This was after he graduated from New York University, but before he received his doctorate from Columbia University.
Here, he helped analyze demand for metals such as steel, copper, and aluminum.
He Became One of Wall Street's Most Trusted Voices
In 1954, Greenspan became the chairman and president of Townsend-Greenspan & Co., a position he held until 1974, and then again from 1977 to 1987. The economic consulting firm was highly profitable, according to Timemagazine, and at one point, it was the place some of the country's largest corporations turned to for conservative financial advice.
"He is the kind of person who knows how many thousands of flat-headed bolts were used in a Chevrolet and what it would do to the national economy if you took out three of them," former Texas Congressman and friend Frank Ikard once said of his vast financial capabilities.
In 1985, Greenspan appeared in multiple commercials as a pitchman for Apple's IIc computer, which many might not realize. "People in high places are always asking me: ‘Alan, where does the money go,'" he said before hawking the computer (and its modem). Back then, the computer cost $1,300.
Some of the features of this early model included checking your bank balance and paying your bills online, according to Wired. "You can even pay your bills off automatically," Greenspan, who had previously served as chairman of the President's Council of Economic Advisers, said in the commercial. "If you have any money left over, congratulations. You’re doing better than the government is."
Greenspan Joked About the Government Before Taking a Job With It
The timing of the Apple spot was amusing in hindsight, since just two years later, Greenspan was appointed to the Federal Reserve, holding the position through two recessions, including the Asian financial crisis in 1997 and the September 11th attacks, according to the Federal Reserve History website.
Greenspan earned a reputation as anti-inflation during this time and worked to control prices rather than promote employment, a stance that critics complained about. However, while some may not have been fans, he did earn the praise of four presidents, first being appointed by Ronald Regan and then reappointed by three successive presidents.
Related: Alan Greenspan, Influential Former Fed Chair, Passes Away at 100 from Parkinson's
You can add "accomplished author" to Greenspan's list of achievements. He wrote several books during his lifetime, including:
The Age of Turbulence: Adventures in a New WorldThe Map and the TerritoryCapitalism in AmericaThe Age of Turbulence was particularly well received, and the book went on to become a New York Times Best Seller, according to Amazon.
Greenspan clearly leaves behind an impressive legacy, but it's likely to pale in comparison to the one he left at home.
His wife, NBC News' Andrea Mitchell, announced his death in a statement early Monday, writing in part, "To me, he was my husband, who shaped my life from our very first date in 1984. He had ‘irrational exuberance’ for baseball, the Washington Commanders, tennis, golf, and music, especially jazz," she continued. "He will be remembered for his brilliance and his kindness. Being his life partner was the joy of my life."
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