Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
ALAN GREENSPANAnd the percentage changes in wage rates would be the same for all job grades.
More Alan Greenspan Quotes
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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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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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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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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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No one has ever eliminated any of that stuff.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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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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If you think you understand what I am saying you do not understand what I am saying.
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I’m a better economist than I was a sax player.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
ALAN GREENSPAN






