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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.

Related Topics

Alternative Benefit Choice Judgement Policy Probability

Bagwalas

Popular Authors

Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN

Far Greenspan Knew Less More Most Suppose
Gold still represents the ultimate form of payment in the world.
ALAN GREENSPAN

Gold Payment Represent Ultimate World
How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN

Escalate Exuberance Irrational Unduly Value
As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN

Alternative Currency Issue Law Legal Long Tender
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
ALAN GREENSPAN

Deserve End Lose Neither Power Principle Republication Swap
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN

Aftermath Dealt History Period Premium Protracted Risk
I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
ALAN GREENSPAN

Absolute Believe Fact Figure Moral Otherwise Proposition
But material success is possible in this world and far more satisfying when it comes without exploiting others.
ALAN GREENSPAN

Come Exploit Material Other Possible Satisfy Success
The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
ALAN GREENSPAN

Art Development Economy Habit Idea Importance Mind Skill Worker
Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
ALAN GREENSPAN

Anyone Barred Country President Will Required
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
ALAN GREENSPAN

Absence Confiscation God Inflation Protect Save
We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
ALAN GREENSPAN

Earning Exhibited Inflation Inverse Past Price Ratio Relationship See
I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
ALAN GREENSPAN

Bank Equity Especially Interest Mistake Organisation Presume Self Share
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
ALAN GREENSPAN

Absence Confiscation Good Inflation Protect Saving Standard
If I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPAN

Clear Misunderstood Must Said Seen Unduly
The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPAN

Equally High Income People Drive Those Workers

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