It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
ALAN GREENSPANRegulation – 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.
More Alan Greenspan Quotes
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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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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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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The need for values is inbred. Their content is not.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
The free lunch has still to be invented.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
ALAN GREENSPAN