Alan Greenspan Quotes About Economy

Quotes about: Economy

• The number one problem in today's generation and economy is the lack of financial literacy.

  Alan Greenspan

  Numbers, Generations, Today's Generation

• Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.

  Alan Greenspan

  Successful, Stuff, Way

  "Alan Greenspan vs. Naomi Klein on the Iraq War, Bush’s Tax Cuts, Economic Populism, Crony Capitalism and More". "Democracy Now!" with Amy Goodman, www.democracynow.org. September 24, 2007.

• The arts develop skills and habits of mind that are important for workers in the new economy of ideas.

  Alan Greenspan

  Art, Skills, Ideas

• In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

  Alan Greenspan

  Safety, Gold, Saving

  Ayn Rand, Nathaniel Branden, Alan Greenspan, Robert Hessen (1986). “Capitalism: The Unknown Ideal”, p.94, Penguin

• I have long argued that paying down the national debt is beneficial for the economy: 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

  Real, Long, Debt

  Remarks by Chairman Alan Greenspan before the Bond Market Association, White Sulphur Springs, West Virginia, www.federalreserve.gov. April 27, 2001.

• Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.

  Alan Greenspan

  Resilience, Fiscal Policy, May

• I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about.

  Alan Greenspan

  Talking, Today, Economy

  "Meet the Press", www.nbcnews.com. August 1, 2010.

• 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... need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.

  Alan Greenspan

  Keys, Incomplete Knowledge, Choices

  "Monetary Policy under Uncertainty". Alan Greenspan's Remarks At a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, www.federalreserve.gov. August 29, 2003.

• The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.

  Alan Greenspan

  Home, House, Spurs

• History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

  Alan Greenspan

  Risk, Aftermath, Economy

  Alan Greenspan (2008). “The Age of Turbulence: Adventures in a New World”, p.796, Penguin UK

• And whatever their publicized angst over Saddam Hussein's 'weapons of mass destruction,' American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy. I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.

  Alan Greenspan

  War, Mass Destruction, Oil

  "The Age of Turbulence: Adventures in a New World". Book by Alan Greenspan, 2007.

• 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.

  Alan Greenspan

  Bells, May, Financial

• In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.

  Alan Greenspan

  Momentum, Financial, Economy

  "Fed chief sparks US rally" by Jane Martinson, www.theguardian.com. December 5, 2000.

• The 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...While these tendencies were no doubt in train in the "old," pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.

  Alan Greenspan

  Past, Technology, Roots

• Whatever you tax you get less of.

  Alan Greenspan

  Economics, Economy, Taxes

• The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that's likely to change for the better.

  Alan Greenspan

  Numbers, Needs, Credit

• I love facts and figures. It's like following a detective story, piecing together what's going on in the economy.

  Alan Greenspan

  Together, Stories, Detectives

  Source: www.today.com

• The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.

  Alan Greenspan

  Self, Size, Imbalance

• We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.

  Alan Greenspan

  Jobs, Real, Bankers

  Alan Greenspan (2008). “The Age of Turbulence: Adventures in a New World”, p.177, Penguin

• I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.

  Alan Greenspan

  Mean, Cutting, Might

• 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.

  Alan Greenspan

  Diversity, Imbalance, Size

  "The mortgage market and consumer debt". Remarks by Chairman Alan Greenspan At America’s Community Bankers Annual Convention, Washington, D.C., www.federalreserve.gov. October 19, 2004.

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