The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
ALAN GREENSPANWhile 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.
More Alan Greenspan Quotes
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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If I’ve made myself clear, I’ve misspoken.
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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.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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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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If I seem unduly clear to you, you must have misunderstood what I said.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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How do we know when irrational exuberance has unduly escalated asset values?
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
ALAN GREENSPAN