It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
ALAN GREENSPANWhat an ideology is is a conceptual framework with the way people deal with reality.
More Alan Greenspan Quotes
-
-
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.
ALAN GREENSPAN -
Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN -
No one has ever eliminated any of that stuff.
ALAN GREENSPAN -
If prices go down, we will have problems – problems in the sense of spillover to other areas.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN -
I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
ALAN GREENSPAN -
Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
ALAN GREENSPAN -
Productivity is notoriously difficult to predict.
ALAN GREENSPAN -
Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPAN -
So there is no reason to suspect that the actual process of boosting rates would be any different.
ALAN GREENSPAN -
The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
ALAN GREENSPAN -
We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
ALAN GREENSPAN -
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
ALAN GREENSPAN -
The number of mistakes I have made are just awesome. There is no number large enough to account for that.
ALAN GREENSPAN