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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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Bank Equity Especially Interest Mistake Organisation Presume Self Share

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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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Aspect Bank Change Economy Ever Give Incomplete Inevitably Knowledge Outcome Particular Sometimes Structural
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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There is no evidence that the business cycle has been repealed.
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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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End Free Manner Money Policy Possible Think
I have long argued that paying down the national debt is beneficial for the economy.
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Beneficial Debt Down Economy Long National Pay
But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Come Exploit Material Other Possible Satisfy Success
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Characteristics Corruption Embezzlement Everywhere Exist Regrettably
Greenspan, who knew so much more than most, knew far less than most supposed.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Creative Destructive Enormous Stage List Yet
Political decisions are never random and will always lose out to innovative alternatives.
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Alternative Decision Innovative Lose Political Random
Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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Apart Contagion Critical Fall Intellectual Phenomenon Shock Sort
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Consensus Cut Fiscal Irresponsible Policy Tax Trigger View
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.
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Deny Monoply Nature Need Readily Resolve Terrible Thing
If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Economic Knowledge Preeminent Remain Transform Value

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