Top 10 most inspiring quotes by Alan Greenspan
- I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
- Any informed borrower is simply less vulnerable to fraud and abuse.
- I’m a free-market economist from years and years back, and I’ve never veered from that.
- Increased jobs are the consequence of increased trade. Increasing jobs more than output implies a fall in productivity and standards of living. That surely cannot be our goal.
- If somebody had said to me in June or July of 1987, ‘We’d like you to become chairman of the Federal Reserve, but you’re never allowed to discuss any economics after you leave,’ I’d have said, ‘Forget it.’ What do they want me to do? Become an anthropologist?’
- Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
- Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
- The person I liked the best was Gerald R. Ford. He was the most decent man in politics I ever had any relationships with.
- 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.
- I always believed in animal spirits. It’s not their existence that is new. It’s the fact that they are not random events, but actually replicate in-bred qualities of human nature which create those animal spirits.
Alan Greenspan, born on March 6, 1926, is an American economist who served as the Chairman of the Federal Reserve of the United States from 1987 to 2006. Born in New York City, Greenspan earned his Ph.D. in economics from New York University in 1977 after a successful academic and consulting career. He became a prominent figure in economic policy and financial circles.
Appointed by President Ronald Reagan, Greenspan played a crucial role in navigating the U.S. economy through various challenges, including the Black Monday stock market crash in 1987 and the dot-com bubble in the late 1990s. Known for his cautious and pragmatic approach, Greenspan was often praised for his ability to maintain economic stability. However, criticism arose in the aftermath of the 2008 financial crisis, as some argued that his policies may have contributed to the housing bubble.
Despite the controversies, Alan Greenspan remains a significant figure in the history of central banking and economic policy, leaving a lasting impact on the U.S. and global financial systems. After his retirement, he continued to be involved in economic discussions and authored several books on economic and financial topics.
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