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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.

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Capital Composition Force Meshed Need Oversimplification Risk Skill Stock Work

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
ALAN GREENSPAN

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I have long argued that paying down the national debt is beneficial for the economy.
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Revolutions are something you see only in retrospect.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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End Free Manner Money Policy Possible Think
Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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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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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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If I seem unduly clear to you, you must have misunderstood what I said.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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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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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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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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There is no evidence that the business cycle has been repealed.
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