While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
ALAN GREENSPANIf we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
More Alan Greenspan Quotes
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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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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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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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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I have long argued that paying down the national debt is beneficial for the economy.
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There is no evidence that the business cycle has been repealed.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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These days, even out of office, I still read economic reports.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN