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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
Art
Ideas
Habits
Important
Arts
Mind
Develop
Workers
Skills
Habit
Economy

More quotes by 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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The number one problem in today's generation and economy is the lack of financial literacy.
Alan Greenspan
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures. Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity are in a state of shocked disbelief.
Alan Greenspan
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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
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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.
Alan Greenspan
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I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive.
Alan Greenspan
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Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn't believe in absolutes, moral or otherwise. If I couldn't prove a proposition with facts and figures, it was without merit.
Alan Greenspan
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It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
Alan Greenspan
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
Alan Greenspan
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But rules cannot substitute for character.
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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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
Alan Greenspan
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Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
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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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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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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You can't have the capitalist system if an increasing number of people think it is unjust.
Alan Greenspan
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others.
Alan Greenspan
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
Alan Greenspan