Alan Greenspan's reputation has changed since his last book, a memoir, was published in 2007. As the man at the helm of the Federal Reserve through two decades of prosperity, he was hailed as a hero. Readers of his new book will expect him to account for the financial collapse that followed. Given Mr Greenspan's experience controlling America's money, he presumably knows where the buck stops. "The Map and the Territory" could have been fascinating. The book aims to explain the economy's recent troubles by offering a "macro view" of how everything works. A new, lucid set of macroeconomic principles would be something new for Mr Greenspan, who long eschewed grand theoretical models in favour of trends intuited from data.
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