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 GREENSPANI have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
More Alan Greenspan Quotes
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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.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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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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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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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 economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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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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They seem to sense… that gold and economic freedom are inseparable.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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If I’ve made myself clear, I’ve misspoken.
ALAN GREENSPAN