History cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPANI love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
More Alan Greenspan Quotes
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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The free lunch has still to be invented.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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Significantly opening up immigration to skilled workers solves two problems.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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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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Indeed, better risk management may be the only truly necessary element of success in banking.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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I have long argued that paying down the national debt is beneficial for the economy.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
ALAN GREENSPAN






