The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPANSo there is no reason to suspect that the actual process of boosting rates would be any different.
More Alan Greenspan Quotes
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There is no evidence that the business cycle has been repealed.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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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Then fear hits, and it comes down very sharply. When I started to look at that.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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If 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.
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But rules cannot substitute for character.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Amateurs want to be right. Professionals want to make money.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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The Iraq War is largely about oil.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
ALAN GREENSPAN