Rules cannot take the place of character.
ALAN GREENSPANIf we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
More Alan Greenspan Quotes
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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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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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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The process of innovation is, of course, never ending.
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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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Senator, if I seem clear to you, you must have misunderstood me’.
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The Iraq War is largely about oil.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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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?
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPAN