Summaries by Barry Eichengreen

2 summaries by this author.

Critical

Alan Greenspan (1926-2026): his mixed legacy is traceable to how he viewed the free market’s role

Alan Greenspan's Federal Reserve tenure, encompassing the Great Moderation and leading to the Great Recession, was impactful. A free-market believer, he controversially bet on a productivity surge for low rates and, crucially, financial market self-regulation. The 2008 crisis disproved his self-regulation theory, prompting admission of a "flaw in the model." The author argues the true lessons are strict market regulation and competent leadership, thus critically assessing Greenspan's core economic philosophy and its ultimate failures, despite his influence.

LiveMint · Barry Eichengreen · Jun 23, 2026 at 7:29 AM

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Balanced

Eichengreen: Gold stack-ups by central banks reflect dismal prospects of globalization

Gold's safe haven status wavered post-West Asia conflict, despite increased central bank purchases. These acquisitions, especially by emerging markets, are largely driven by sanctions risk, evidenced by Russia and China, and distrust of foreign custodians. While domestic gold offers security, it complicates transactions. The decline in gold held at the New York Fed and the trend of repatriation reflect growing geopolitical fragmentation. Overall, central bank gold accumulation signals deglobalization, highlighting a world where cross-border transactions become more difficult and costly.

LiveMint · Barry Eichengreen · May 14, 2026 at 8:30 AM

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