History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANThe recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
More Alan Greenspan Quotes
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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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.
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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.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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If you think you understand what I am saying you do not understand what I am saying.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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History cannot be reduced to a set of statistics and probabilities.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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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.
ALAN GREENSPAN