Quote

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

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
Response
Contain
Economy
Flexible
Greater
Correct
Unanticipated
Ability
Consequences
Imbalances
Often
Inevitable
Cyclical
Self
Thus
Disturbances
Consequence
Imbalance
Size
Disturbance

More quotes by Alan Greenspan

Image
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
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
You can't have the capitalist system if an increasing number of people think it is unjust.
Alan Greenspan
Image
Greenspan, who knew so much more than most, knew far less than most supposed.
Alan Greenspan
Image
Revolutions are something you see only in retrospect.
Alan Greenspan
Image
Excessive optimism sows the seeds of its own reversal.
Alan Greenspan
Image
The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
Alan Greenspan
Image
Amateurs want to be right. Professionals want to make money.
Alan Greenspan
Image
Rules cannot take the place of character.
Alan Greenspan
Image
Whatever you tax you get less of.
Alan Greenspan
Image
I'm not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
Alan Greenspan
Image
The need for values is inbred. Their content is not.
Alan Greenspan
Image
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
Alan Greenspan
Image
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
Alan Greenspan
Image
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
Alan Greenspan
Image
If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
Alan Greenspan
Image
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
Image
Credit-default swaps, I think, have serious problems associated with them.
Alan Greenspan