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.
ALAN GREENSPANIt has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
More Alan Greenspan Quotes
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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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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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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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The number one problem in today’s generation and economy is the lack of financial literacy.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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What an ideology is is a conceptual framework with the way people deal with reality.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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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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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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.
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The need for values is inbred. Their content is not.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Credit-default swaps, I think, have serious problems associated with them.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Derivatives have permitted the unbundling of financial risks.
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I have long argued that paying down the national debt is beneficial for the economy.
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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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Senator, if I seem clear to you, you must have misunderstood me’.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPAN