It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
ALAN GREENSPANIf we are dealing with psychology, then the thermometers one uses to measure it have an effect.
More Alan Greenspan Quotes
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The guiding purpose of the government regulator is to prevent rather than to create something.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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I’m a better economist than I was a sax player.
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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.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPAN