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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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Capital Composition Force Meshed Need Oversimplification Risk Skill Stock Work

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

By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN

Decade Development During Event Expansion Extraordinary Far Finance Most Significant
Whatever you tax you get less of.
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Economy Less Tax
Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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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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Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPAN

Abuse Borrower Fraud Inform Less Simply Vulnerable
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
ALAN GREENSPAN

Economic Knowledge Preeminent Remain Transform Value
In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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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.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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Capitalism Cardinal Demand Integrity Interest Market Piece Trustworthy Vice Virtue
Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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Accurate Everyone Exist Ideology Need Question

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