At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
ALAN GREENSPANCorruption, embezzlement, fraud, these are all characteristics which exist everywhere.
More Alan Greenspan Quotes
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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The need for values is inbred. Their content is not.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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Excessive optimism sows the seeds of its own reversal.
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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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The guiding purpose of the government regulator is to prevent rather than to create something.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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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 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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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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The process of innovation is, of course, never ending.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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No one has ever eliminated any of that stuff.
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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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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN