An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
ALAN GREENSPANIf 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.
More Alan Greenspan Quotes
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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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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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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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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Stripped 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.
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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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Productivity is notoriously difficult to predict.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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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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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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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