What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPANBut material success is possible in this world and far more satisfying when it comes without exploiting others.
More Alan Greenspan Quotes
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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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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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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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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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Productivity is notoriously difficult to predict.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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History cannot be reduced to a set of statistics and probabilities.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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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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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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If you think you understand what I am saying you do not understand what I am saying.
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Political decisions are never random and will always lose out to innovative alternatives.
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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.
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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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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.
ALAN GREENSPAN