Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Years
Example
Rates
Stage
Hardly
Creative
Wave
Overemphasize
True
Enormous
Freight
Firsts
Rate
Deregulation
First
Destruction
Unfold
Hard
Benefits
Rail
Important
Took
Ford

More quotes by Alan Greenspan

Image
Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
Alan Greenspan
Image
The guiding purpose of the government regulator is to prevent rather than to create something.
Alan Greenspan
Image
Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
Alan Greenspan
Image
Any informed borrower is simply less vulnerable to fraud and abuse.
Alan Greenspan
Image
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
Image
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
Alan Greenspan
Image
Anything that we can do to raise personal savings is very much in the interest of this country.
Alan Greenspan
Image
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
Alan Greenspan
Image
I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically -- I should say, fully -- hedged.
Alan Greenspan
Image
Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.
Alan Greenspan
Image
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
Image
Greenspan, who knew so much more than most, knew far less than most supposed.
Alan Greenspan
Image
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
Alan Greenspan
Image
Rules cannot take the place of character.
Alan Greenspan
Image
I'm a better economist than I was a sax player.
Alan Greenspan
Image
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
Image
...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
Image
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
Image
Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted.
Alan Greenspan
Image
The number one problem in today's generation and economy is the lack of financial literacy.
Alan Greenspan