Alan Greenspan, the noted former central banker, had a significant intellectual relationship with Ayn Rand, author of the influential 1957 novel Atlas Shrugged. This novel is a favorite among conservatives and was recognized by the Library of Congress as a book that has shaped America.
Greenspan and Rand first met when Greenspan was in his twenties and Rand was in her forties, already established with her 1943 novel The Fountainhead. Their introduction came through Greenspan’s then-wife, Canadian art historian Joan Mitchell, who was connected to Rand’s circle through Nathaniel Branden, Rand’s protégé.
Greenspan and Mitchell married in 1952 but divorced a year later. However, Greenspan’s friendship with Rand endured until her death in 1982. He joined Rand’s “Collective,” a group that discussed politics, world events, and ideas at Rand’s Manhattan apartment. His attendance there became regular.
In Greenspan’s 2007 memoir, The Age of Turbulence: Adventures in a New World, he noted that Rand nicknamed him “the undertaker” due to his preference for dark suits and serious demeanor. Despite this reputation, Greenspan had early artistic ambitions. He studied clarinet at Juilliard and played in a band with Stan Getz before moving to economics at New York University.
His conservative political views aligned with his musical preferences. In his memoir, he criticized most post-big band popular music as “on the edge of noise.” Greenspan contributed to Rand’s magazine, The Objectivist, with a notable essay on the gold standard published in 1966. This essay was later included in Rand’s book Capitalism: The Unknown Ideal.
At Greenspan’s swearing-in as Chairman of the Council of Economic Advisers during the Ford administration, Rand was present alongside her husband Frank O’Connor and Greenspan’s mother Rose Goldsmith. Greenspan credited Rand as a stabilizing influence, describing her as a sharp analytical thinker and a strong proponent of rationality. Their values, particularly regarding mathematics and intellectual rigor, were closely aligned.