Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPANWhile local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
More Alan Greenspan Quotes
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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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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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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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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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I’m a better economist than I was a sax player.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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I 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.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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No one has ever eliminated any of that stuff.
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Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN






