Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
ALAN GREENSPANI’m a better economist than I was a sax player.
More Alan Greenspan Quotes
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The Iraq War is largely about oil.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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Productivity is notoriously difficult to predict.
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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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The free lunch has still to be invented.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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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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 made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
ALAN GREENSPAN