The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPANWe can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
More Alan Greenspan Quotes
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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The process of innovation is, of course, never ending.
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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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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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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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And she always has so much fun doing it. We make a good team.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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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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All taxes are a drag on economic growth. It’s only a question of degree.
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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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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN