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.
ALAN GREENSPANIf I’ve made myself clear, I’ve misspoken.
More Alan Greenspan Quotes
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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The Iraq War is largely about oil.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Rules cannot take the place of character.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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Productivity is notoriously difficult to predict.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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The free lunch has still to be invented.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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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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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.
ALAN GREENSPAN