{"id":152144,"date":"2026-06-26T17:41:19","date_gmt":"2026-06-26T17:41:19","guid":{"rendered":"https:\/\/www.europesays.com\/hu\/152144\/"},"modified":"2026-06-26T17:41:19","modified_gmt":"2026-06-26T17:41:19","slug":"alan-greenspan-koranak-legendas-jegybankara-volt-a-maestro-dilemmai-pedig-ma-is-velunk-elnek","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/hu\/152144\/","title":{"rendered":"Alan Greenspan kor\u00e1nak legend\u00e1s jegybank\u00e1ra volt \u2013 a Maestro dilemm\u00e1i pedig ma is vel\u00fcnk \u00e9lnek"},"content":{"rendered":"

Sz\u00e1z\u00e9ves kor\u00e1ban elhunyt Alan Greenspan, az amerikai monet\u00e1ris politika t\u00f6rt\u00e9net\u00e9nek egyik legismertebb \u00e9s legnagyobb hat\u00e1s\u00fa alakja. K\u00f6zel h\u00fasz \u00e9ven \u00e1t vezette az amerikai jegybankot: p\u00e1lyafut\u00e1sa az 1987-es t\u0151zsdekracht\u00f3l a 2008-as p\u00e9nz\u00fcgyi v\u00e1ls\u00e1got megel\u0151z\u0151 hossz\u00fa fellend\u00fcl\u00e9sig \u00edvelt. Ezt az id\u0151szakot a gazdas\u00e1gt\u00f6rt\u00e9net Great Moderationnek, vagyis \u201enagy m\u00e9rs\u00e9kl\u0151d\u00e9snek\u201d nevezi. A hetvenes \u00e9vek stagfl\u00e1ci\u00f3j\u00e1t alacsonyabb infl\u00e1ci\u00f3, m\u00e9rs\u00e9kl\u0151d\u0151 hozamok, valamint stabilabb gazdas\u00e1gi n\u00f6veked\u00e9s v\u00e1ltotta fel. Ebben term\u00e9szetesen a kedvez\u0151 k\u00fcls\u0151 k\u00f6rnyezet is szerepet j\u00e1tszott: lez\u00e1rult a hidegh\u00e1bor\u00fa, felgyorsult a globaliz\u00e1ci\u00f3, K\u00edna fokozatosan integr\u00e1l\u00f3dott a vil\u00e1ggazdas\u00e1gba, az internet \u00e9s az inform\u00e1ci\u00f3s technol\u00f3gi\u00e1k terjed\u00e9se pedig jelent\u0151s termel\u00e9kenys\u00e9gi el\u0151rel\u00e9p\u00e9st hozott a kilencvenes \u00e9vek m\u00e1sodik fel\u00e9t\u0151l.<\/p>\n

A gazdas\u00e1gt\u00f6rt\u00e9neti eml\u00e9kezet Greenspant a monet\u00e1ris politika \u201ekarmesterek\u00e9nt\u201d, a Fed \u201eMaestr\u00f3jak\u00e9nt\u201d tartja sz\u00e1mon. Kiv\u00e1l\u00f3 \u00fctem\u00e9rz\u00e9ke \u00e9s gazdas\u00e1gpolitikai \u00e9lesl\u00e1t\u00e1sa legend\u00e1ss\u00e1 tette, ismerts\u00e9ge az amerikai eln\u00f6k\u00f6k\u00e9vel vetekedett.<\/p>\n

\"\"Getty Images Richard Nixon eln\u00f6k balj\u00e1n Alan Greenspan.<\/p>\n

Eln\u00f6ks\u00e9ge alatt \u00e9l\u00e9nk vit\u00e1k zajlottak a jegybank gazdas\u00e1gban bet\u00f6lt\u00f6tt szerep\u00e9r\u0151l. A legfontosabb k\u00e9rd\u00e9sek k\u00f6z\u00e9 tartozott, hogy mik\u00e9nt kell a monet\u00e1ris politik\u00e1nak viszonyulnia az eszk\u00f6z\u00e1rak \u2013 p\u00e9ld\u00e1ul a r\u00e9szv\u00e9ny\u00e1rfolyamok \u2013 emelked\u00e9s\u00e9hez, feladata-e a jegybanknak a p\u00e9nz\u00fcgyi bubor\u00e9kok megel\u0151z\u00e9se, illetve hogyan kell reag\u00e1lnia a p\u00e9nz\u00fcgyi p\u00e1nikok \u00e9s v\u00e1ls\u00e1gok kialakul\u00e1s\u00e1ra. P\u00e1lyafut\u00e1s\u00e1ra ugyanakkor \u00e1rny\u00e9kot vet a 2008-as v\u00e1ls\u00e1g. Kritikusai szerint a p\u00e9nz\u00fcgyi piacok \u00f6nszab\u00e1lyoz\u00f3 k\u00e9pess\u00e9g\u00e9be vetett t\u00falzott bizalma \u00e9s az ingatlanpiaci hitelez\u00e9s el\u00e9gtelen fel\u00fcgyelete hozz\u00e1j\u00e1rult a v\u00e1ls\u00e1g kialakul\u00e1s\u00e1hoz. Az esem\u00e9nyek mag\u00e1t Greenspant is \u00f6nreflexi\u00f3ra \u00e9s kor\u00e1bbi n\u00e9zeteinek r\u00e9szleges fel\u00fclvizsg\u00e1lat\u00e1ra k\u00e9sztett\u00e9k.<\/p>\n

Alan Greenspan k\u00e9ts\u00e9gk\u00edv\u00fcl az amerikai t\u00f6rt\u00e9nelem egyik legjelent\u0151sebb jegybank\u00e1ra volt. Azok a dilemm\u00e1k pedig, amelyekkel p\u00e1lyafut\u00e1sa sor\u00e1n szembes\u00fclt, ma is vel\u00fcnk \u00e9lnek. A k\u00f6lts\u00e9gvet\u00e9si hi\u00e1nyok \u00e9s az \u00e1llamad\u00f3ss\u00e1g kamatokra gyakorolt hat\u00e1sa, a technol\u00f3giai v\u00e1ltoz\u00e1sok \u00e1ltal kiv\u00e1ltott termel\u00e9kenys\u00e9gi sokkok, valamint a r\u00e9szv\u00e9nypiaci bubor\u00e9kok k\u00e9rd\u00e9sei napjaink gazdas\u00e1gpolitik\u00e1j\u00e1nak is meghat\u00e1roz\u00f3 t\u00e9m\u00e1i. Greenspan \u00f6r\u00f6ks\u00e9ge ez\u00e9rt nem csup\u00e1n t\u00f6rt\u00e9neti \u00e9rdekl\u0151d\u00e9sre tarthat sz\u00e1mot: \u00e9letm\u0171ve ma is fontos tanuls\u00e1gokkal szolg\u00e1l a gazdas\u00e1gpolitikai d\u00f6nt\u00e9shoz\u00f3k sz\u00e1m\u00e1ra.<\/p>\n

A piacp\u00e1rti muzsikus<\/p>\n

Alan Greenspan 1926-ban sz\u00fcletett New Yorkban, magyar \u00e9s rom\u00e1n zsid\u00f3 sz\u00e1rmaz\u00e1s\u00fa sz\u00fcl\u0151k gyermekek\u00e9nt. K\u00fcl\u00f6ncs\u00e9ge m\u00e1r fiatal kor\u00e1ban megmutatkozott: n\u00e9gy\u00e9vesen vas\u00fati menetrendeket tanulm\u00e1nyozott, \u00f3r\u00e1kon \u00e1t b\u00f6ng\u00e9szve a j\u00e1ratok k\u00f6z\u00f6tti \u00f6sszef\u00fcgg\u00e9seket.<\/p>\n","protected":false},"excerpt":{"rendered":"Sz\u00e1z\u00e9ves kor\u00e1ban elhunyt Alan Greenspan, az amerikai monet\u00e1ris politika t\u00f6rt\u00e9net\u00e9nek egyik legismertebb \u00e9s legnagyobb hat\u00e1s\u00fa alakja. K\u00f6zel h\u00fasz…\n","protected":false},"author":2,"featured_media":152145,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[8],"tags":[44910,15583,42,43,212,16944,34,7204,94,93,92],"class_list":["post-152144","post","type-post","status-publish","format-standard","has-post-thumbnail","category-vilag","tag-alan-greenspan","tag-fed","tag-hungarian","tag-magyar","tag-meghalt","tag-monetaris-politika","tag-news","tag-portre","tag-vilag","tag-world","tag-world-news"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@hu\/116817645627701874","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/posts\/152144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/comments?post=152144"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/posts\/152144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/media\/152145"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/media?parent=152144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/categories?post=152144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/hu\/wp-json\/wp\/v2\/tags?post=152144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}