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.
ALAN GREENSPANThere is no evidence that the business cycle has been repealed.
More Alan Greenspan Quotes
-
-
Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPAN -
And the percentage changes in wage rates would be the same for all job grades.
ALAN GREENSPAN -
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
ALAN GREENSPAN -
Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPAN -
We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN -
American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
If you think you understand what I am saying you do not understand what I am saying.
ALAN GREENSPAN -
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 GREENSPAN -
Indeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPAN -
It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
ALAN GREENSPAN -
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN -
The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
ALAN GREENSPAN