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...our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Depends
Trust
System
Word
Business
Critically
Colleagues
Market

More quotes by Alan Greenspan

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These days, even out of office, I still read economic reports.
Alan Greenspan
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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
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
Alan Greenspan
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I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.
Alan Greenspan
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
Alan Greenspan
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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.
Alan Greenspan
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History cannot be reduced to a set of statistics and probabilities.
Alan Greenspan
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
Alan Greenspan
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
Alan Greenspan
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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.
Alan Greenspan
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Excessive optimism sows the seeds of its own reversal.
Alan Greenspan
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The number one problem in today's generation and economy is the lack of financial literacy.
Alan Greenspan
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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.
Alan Greenspan
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As long as we issue fiat currency, I see no alternative to a legal tender law.
Alan Greenspan
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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
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I love facts and figures. It's like following a detective story, piecing together what's going on in the economy.
Alan Greenspan
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
Alan Greenspan
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What an ideology is is a conceptual framework with the way people deal with reality. Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
Alan Greenspan
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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.
Alan Greenspan
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.
Alan Greenspan