In his memoirs, former Federal Reserve Chairman Alan Greenspan writes, "The history of money is the history of civilization or, more exactly, of some important civilizing values… Its form at any particular period of history reflects the degree of confidence, or the degree of trust, that market participants have in the institutes that govern every market system, whether centrally planned or free." What do you think Greenspan meant by this? Explain.

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The Answer of In his memoirs, former Federal Reserve Chairman Alan Greenspan writes, "The history of money is the history of civilization or, more exactly, of some important civilizing values… Its form at any particular period of history reflects the degree of confidence, or the degree of trust, that market participants have in the institutes that govern every market system, whether centrally planned or free." What do you think Greenspan meant by this? Explain.

In His Memoirs, Former Federal Reserve Chairman Alan Greenspan Writes