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 Copy Share Image
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… — Alan Greenspan Copy Share Image
Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours. — Alan Greenspan Copy Share Image
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,… — Alan Greenspan Copy Share Image
To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal… — Alan Greenspan Copy Share Image
I've always argued that this country has benefited immensely from the fact that we draw people from all over the world. — Alan Greenspan Copy Share Image
I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It… — Alan Greenspan Copy Share Image
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… — Alan Greenspan Copy Share Image
Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage… — Alan Greenspan Copy Share 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… — Alan Greenspan Copy Share Image
Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the… — Alan Greenspan Copy Share Image
At the outset of the creation of the euro in 1999, it was expected that the southern eurozone economies would behave like those in… — Alan Greenspan Copy Share Image
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… — Alan Greenspan Copy Share Image
The guiding purpose of the government regulator is to prevent rather than to create something. — Alan Greenspan Copy Share Image
![“Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism. In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by…” quote by Alan Greenspan](https://sms4smile.com/quotes/img-quotes/e7f/alan-greenspan-1834_america_skilled-shortages-in-america-exist-becau_52819.jpg)
