The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPANStripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
More Alan Greenspan Quotes
-
-
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN -
Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
ALAN GREENSPAN -
How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN -
Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPAN -
I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN -
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?
ALAN GREENSPAN -
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
ALAN GREENSPAN -
Credit-default swaps, I think, have serious problems associated with them.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPAN -
I’m a plain soap kind of guy.
ALAN GREENSPAN -
If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPAN -
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN -
What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
ALAN GREENSPAN -
What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPAN