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I'm a better economist than I was a sax player.

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
Economist
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More quotes by Alan Greenspan

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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
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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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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.
Alan Greenspan
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How do we know when irrational exuberance has unduly escalated asset values?
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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Significantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking
Alan Greenspan
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion.
Alan Greenspan
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
Alan Greenspan
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The free lunch has still to be invented.
Alan Greenspan
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
Alan Greenspan
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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
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Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
Alan Greenspan
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.
Alan Greenspan
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The guiding purpose of the government regulator is to prevent rather than to create something.
Alan Greenspan
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Revolutions are something you see only in retrospect.
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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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