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.
ALAN GREENSPANIt is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
More Alan Greenspan Quotes
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If I say something which you understand fully in this regard, I probably made a mistake.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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Significantly opening up immigration to skilled workers solves two problems.
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The need for values is inbred. Their content is not.
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What an ideology is is a conceptual framework with the way people deal with reality.
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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.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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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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Rules cannot take the place of character.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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These days, even out of office, I still read economic reports.
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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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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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I have long argued that paying down the national debt is beneficial for the economy.
ALAN GREENSPAN