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It's hard to overemphasize how important Ford's deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first. Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
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New York City
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Anything that we can do to raise personal savings is very much in the interest of this country.
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There is no evidence that the business cycle has been repealed.
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Institutions of the newer participants in global finance had not been tested, until recently...recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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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.
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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.
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We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
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The process of innovation is, of course, never ending.
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Productivity is notoriously difficult to predict.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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If you think you understand what I am saying you do not understand what I am saying.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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If I've made myself clear, I've misspoken.
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The Iraq War is largely about oil.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed investors no longer fund them and are not likely to in the future.
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