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.
ALAN GREENSPANIt is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
More Alan Greenspan Quotes
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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The free lunch has still to be invented.
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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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Market financed withdrawals of home equity in recent years.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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The tub helps me relax, and it’s a great place to read.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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These days, even out of office, I still read economic reports.
ALAN GREENSPAN