The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPANThe process of innovation is, of course, never ending.
More Alan Greenspan Quotes
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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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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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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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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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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If I’ve made myself clear, I’ve misspoken.
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The tub helps me relax, and it’s a great place to read.
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Senator, if I seem clear to you, you must have misunderstood me’.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPAN