Significantly opening up immigration to skilled workers solves two problems.
ALAN GREENSPANThe number one problem in today’s generation and economy is the lack of financial literacy.
More Alan Greenspan Quotes
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Market financed withdrawals of home equity in recent years.
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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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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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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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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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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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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.
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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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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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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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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
ALAN GREENSPAN