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.
ALAN GREENSPANThe more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
More Alan Greenspan Quotes
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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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If I say something which you understand fully in this regard, I probably made a mistake.
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No one has ever eliminated any of that stuff.
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Whatever you tax you get less of.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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Productivity is notoriously difficult to predict.
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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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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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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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
ALAN GREENSPAN