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.
ALAN GREENSPANThey then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
More Alan Greenspan Quotes
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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I’m a better economist than I was a sax player.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Gold still represents the ultimate form of payment in the world.
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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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How do we know when irrational exuberance has unduly escalated asset values?
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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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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPAN