Whatever you tax you get less of.
ALAN GREENSPANRegulation – 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.
More Alan Greenspan Quotes
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Derivatives have permitted the unbundling of financial risks.
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The Iraq War is largely about oil.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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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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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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I have long argued that paying down the national debt is beneficial for the economy.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
ALAN GREENSPAN