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

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
Habit
Economy
Art
Ideas
Habits
Important
Arts
Mind
Develop
Workers
Skills

More quotes by Alan Greenspan

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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
Alan Greenspan
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
Alan Greenspan
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Rules cannot take the place of character.
Alan Greenspan
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I'm running into the tyranny of zero, which is where you can't reduce (the debt) any more
Alan Greenspan
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.
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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Indeed, better risk management may be the only truly necessary element of success in banking.
Alan Greenspan
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
Alan Greenspan
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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
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...
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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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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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.
Alan Greenspan
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All taxes are a drag on economic growth. It's only a question of degree.
Alan Greenspan
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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
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History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
Alan Greenspan
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
Alan Greenspan
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
Alan Greenspan
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We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
Alan Greenspan
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There is no evidence that the business cycle has been repealed.
Alan Greenspan