---
title: "6 Decades Quotes By Alan Greenspan"
description: "6 Decades quotes by Alan Greenspan. Plus more from Alan Greenspan and more Decades sayings from other authors."
image: "https://sms4smile.com/quotes/i/772/alan-greenspan-1834_century_the-recent-period-has-been-marked-by-a-t_437373.jpg"
---

> [The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense…](https://sms4smile.com/quotes/alan-greenspan/the-recent-period-has-been-marked-by-a-transformation-to-an-economy/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

[Image](https://sms4smile.com/quotes/i/772/alan-greenspan-1834_century_the-recent-period-has-been-marked-by-a-t_437373.jpg)

> [It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The…](https://sms4smile.com/quotes/alan-greenspan/it-seems-superfluous-to-constrain-trading-in-some-of-the-newer/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

[Image](https://sms4smile.com/quotes/i/18a/alan-greenspan-1834_business_it-seems-superfluous-to-constrain-tradin_1085448.png)

> [Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning…](https://sms4smile.com/quotes/alan-greenspan/clearly-sustained-low-inflation-implies-less-uncertainty-about-the/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

[Image](https://sms4smile.com/quotes/i/278/alan-greenspan-1834_assets_clearly-sustained-low-inflation-implies_1128526.jpg)

> [By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.](https://sms4smile.com/quotes/alan-greenspan/by-far-the-most-significant-event-in-finance-during-the-past-decade/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

[Image](https://sms4smile.com/quotes/i/c7c/alan-greenspan-1834_decades_by-far-the-most-significant-event-in-fin_1572201.png)

> [But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions…](https://sms4smile.com/quotes/alan-greenspan/but-how-do-we-know-when-irrational-exuberance-has-unduly-escalated/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

[Image](https://sms4smile.com/quotes/i/7d5/alan-greenspan-1834_assets_but-how-do-we-know-when-irrational-exube_1882991.png)

> [This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns…](https://sms4smile.com/quotes/alan-greenspan/this-decade-is-strewn-with-examples-of-bright-people-who-thought-they/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

[Image](https://sms4smile.com/quotes/i/47b/alan-greenspan-1834_abnormal_this-decade-is-strewn-with-examples-of-b_2691530.png)

## Other authors on Decades

## More by Alan Greenspan

> [Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.](https://sms4smile.com/quotes/alan-greenspan/crony-capitalism-is-essentially-a-condition-in-which-public-officials/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock,…](https://sms4smile.com/quotes/alan-greenspan/at-the-risk-of-some-oversimplification-if-the-skill-composition-of/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal…](https://sms4smile.com/quotes/alan-greenspan/to-succeed-you-will-soon-learn-as-i-did-the-importance-of-a-solid/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.](https://sms4smile.com/quotes/alan-greenspan/i-ve-always-argued-that-this-country-has-benefited-immensely-from-the/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It…](https://sms4smile.com/quotes/alan-greenspan/i-cannot-conceive-of-a-politically-feasible-solution-to-this-problem/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [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…](https://sms4smile.com/quotes/alan-greenspan/before-i-met-ayn-rand-i-was-a-logical-positivist-and-accordingly-i/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [ Skilled shortages in America exist because we are shielding our skilled labor force from world competition. \[Visa quotas\] have been substituted for the wage… ](https://sms4smile.com/quotes/alan-greenspan/skilled-shortages-in-america-exist-because-we-are-shielding-our/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority…](https://sms4smile.com/quotes/alan-greenspan/a-decline-in-the-national-housing-price-level-would-need-to-be/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the…](https://sms4smile.com/quotes/alan-greenspan/although-the-outlook-is-clouded-by-a-number-of-uncertainties-the/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [At the outset of the creation of the euro in 1999, it was expected that the southern eurozone economies would behave like those in…](https://sms4smile.com/quotes/alan-greenspan/at-the-outset-of-the-creation-of-the-euro-in-1999-it-was-expected/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy…](https://sms4smile.com/quotes/alan-greenspan/we-may-be-in-a-rapidly-evolving-international-financial-system-with/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [The guiding purpose of the government regulator is to prevent rather than to create something.](https://sms4smile.com/quotes/alan-greenspan/the-guiding-purpose-of-the-government-regulator-is-to-prevent-rather/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [“government regulation cannot substitute for individual integrity.”](https://sms4smile.com/quotes/alan-greenspan/government-regulation-cannot-substitute-for-individual-integrity/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [...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…](https://sms4smile.com/quotes/alan-greenspan/our-market-system-depends-critically-on-trust-trust-in-the-word-of/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

> [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…](https://sms4smile.com/quotes/alan-greenspan/it-s-hard-to-overemphasize-how-important-ford-s-deregulation-was-true/)

[Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "ItemList",
            "@id": "https://sms4smile.com/quotes/about/decades/alan-greenspan/#itemlist",
            "name": "6 Decades Quotes By Alan Greenspan",
            "numberOfItems": 6,
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "item": {
                        "@type": "Quotation",
                        "text": "The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses...While these tendencies were no doubt in train in the \"old,\" pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.",
                        "creator": {
                            "@type": "Person",
                            "name": "Alan Greenspan"
                        },
                        "url": "https://sms4smile.com/quotes/alan-greenspan/the-recent-period-has-been-marked-by-a-transformation-to-an-economy/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/772/alan-greenspan-1834_century_the-recent-period-has-been-marked-by-a-t_437373.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/772/alan-greenspan-1834_century_the-recent-period-has-been-marked-by-a-t_437373.jpg",
                            "url": "https://sms4smile.com/quotes/i/772/alan-greenspan-1834_century_the-recent-period-has-been-marked-by-a-t_437373.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“The recent period has been marked by a transformation to an economy that is more productive as competitive…” — Alan Greenspan",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "item": {
                        "@type": "Quotation",
                        "text": "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.",
                        "creator": {
                            "@type": "Person",
                            "name": "Alan Greenspan"
                        },
                        "url": "https://sms4smile.com/quotes/alan-greenspan/it-seems-superfluous-to-constrain-trading-in-some-of-the-newer/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/18a/alan-greenspan-1834_business_it-seems-superfluous-to-constrain-tradin_1085448.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/18a/alan-greenspan-1834_business_it-seems-superfluous-to-constrain-tradin_1085448.png",
                            "url": "https://sms4smile.com/quotes/i/18a/alan-greenspan-1834_business_it-seems-superfluous-to-constrain-tradin_1085448.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial…” — Alan Greenspan",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "item": {
                        "@type": "Quotation",
                        "text": "Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. 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?",
                        "creator": {
                            "@type": "Person",
                            "name": "Alan Greenspan"
                        },
                        "url": "https://sms4smile.com/quotes/alan-greenspan/clearly-sustained-low-inflation-implies-less-uncertainty-about-the/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/278/alan-greenspan-1834_assets_clearly-sustained-low-inflation-implies_1128526.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/278/alan-greenspan-1834_assets_clearly-sustained-low-inflation-implies_1128526.jpg",
                            "url": "https://sms4smile.com/quotes/i/278/alan-greenspan-1834_assets_clearly-sustained-low-inflation-implies_1128526.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply…” — Alan Greenspan",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "item": {
                        "@type": "Quotation",
                        "text": "By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.",
                        "creator": {
                            "@type": "Person",
                            "name": "Alan Greenspan"
                        },
                        "url": "https://sms4smile.com/quotes/alan-greenspan/by-far-the-most-significant-event-in-finance-during-the-past-decade/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/c7c/alan-greenspan-1834_decades_by-far-the-most-significant-event-in-fin_1572201.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/c7c/alan-greenspan-1834_decades_by-far-the-most-significant-event-in-fin_1572201.png",
                            "url": "https://sms4smile.com/quotes/i/c7c/alan-greenspan-1834_decades_by-far-the-most-significant-event-in-fin_1572201.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“By far the most significant event in finance during the past decade has been the extraordinary development…” — Alan Greenspan",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "item": {
                        "@type": "Quotation",
                        "text": "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?",
                        "creator": {
                            "@type": "Person",
                            "name": "Alan Greenspan"
                        },
                        "url": "https://sms4smile.com/quotes/alan-greenspan/but-how-do-we-know-when-irrational-exuberance-has-unduly-escalated/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/7d5/alan-greenspan-1834_assets_but-how-do-we-know-when-irrational-exube_1882991.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/7d5/alan-greenspan-1834_assets_but-how-do-we-know-when-irrational-exube_1882991.png",
                            "url": "https://sms4smile.com/quotes/i/7d5/alan-greenspan-1834_assets_but-how-do-we-know-when-irrational-exube_1882991.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“But how do we know when irrational exuberance has unduly escalated asset values, which then become subject…” — Alan Greenspan",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 6,
                    "item": {
                        "@type": "Quotation",
                        "text": "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.",
                        "creator": {
                            "@type": "Person",
                            "name": "Alan Greenspan"
                        },
                        "url": "https://sms4smile.com/quotes/alan-greenspan/this-decade-is-strewn-with-examples-of-bright-people-who-thought-they/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/47b/alan-greenspan-1834_abnormal_this-decade-is-strewn-with-examples-of-b_2691530.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/47b/alan-greenspan-1834_abnormal_this-decade-is-strewn-with-examples-of-b_2691530.png",
                            "url": "https://sms4smile.com/quotes/i/47b/alan-greenspan-1834_abnormal_this-decade-is-strewn-with-examples-of-b_2691530.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“This decade is strewn with examples of bright people who thought they built a better mousetrap that could…” — Alan Greenspan",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                }
            ]
        },
        {
            "@type": "CollectionPage",
            "@id": "https://sms4smile.com/quotes/about/decades/alan-greenspan/#webpage",
            "url": "https://sms4smile.com/quotes/about/decades/alan-greenspan/",
            "name": "Decades Quotes by Alan Greenspan",
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "mainEntity": {
                "@id": "https://sms4smile.com/quotes/about/decades/alan-greenspan/#itemlist"
            },
            "primaryImageOfPage": {
                "@id": "https://sms4smile.com/quotes/i/772/alan-greenspan-1834_century_the-recent-period-has-been-marked-by-a-t_437373.jpg"
            },
            "description": "6 Decades quotes by Alan Greenspan. Plus more from Alan Greenspan and more Decades sayings from other authors.",
            "breadcrumb": {
                "@id": "https://sms4smile.com/quotes/about/decades/alan-greenspan/#breadcrumb"
            }
        },
        {
            "@type": "BreadcrumbList",
            "@id": "https://sms4smile.com/quotes/about/decades/alan-greenspan/#breadcrumb",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Topics",
                    "item": "https://sms4smile.com/quotes/categories/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "Decades",
                    "item": "https://sms4smile.com/quotes/about/decades/"
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "name": "Alan Greenspan",
                    "item": "https://sms4smile.com/quotes/about/decades/alan-greenspan/"
                }
            ]
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```