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.
ALAN GREENSPANNow, I only play very occasionally, and in fact, more piano than clarinet or sax.
More Alan Greenspan Quotes
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Whatever you tax you get less of.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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Amateurs want to be right. Professionals want to make money.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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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.
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They seem to sense… that gold and economic freedom are inseparable.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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All taxes are a drag on economic growth. It’s only a question of degree.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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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.
ALAN GREENSPAN