The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPANWe can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
More Alan Greenspan Quotes
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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Amateurs want to be right. Professionals want to make money.
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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 always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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The free lunch has still to be invented.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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There are no easy choices. Easy choices are long gone.
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Significantly opening up immigration to skilled workers solves two problems.
ALAN GREENSPAN