How significant and disruptive such adjustments turn out to be is an open question, ... shocks should be largely absorbed by changes in prices, interest rates and exchange rates, rather than by wrenching declines in output and employment.
More Quotes from 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 and numerical, and communication skills.Alan Greenspan
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Changes in consumer confidence will require close scrutiny in the period ahead, especially after the steep falloff of recent months,
Alan Greenspan
We are seeing an evolving new international economy. We are in the process of learning how it works as we are doing it, ... Fortunately, the trauma that came out of the Russian default created so much risk aversion ... we probably have time to be deliberative in determining how the (international monetary) structure ought to be structured.
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If no action is taken at all ... we're going to be confronted within a few years with a marked upward ratcheting of long-term interest rates, which is very debilitating to long-term economic growth,
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Based on Topics: Work & Career QuotesBased on Keywords: wrenching
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William Falconer
Strategic planning is worthless - unless there is first a strategic vision.
John Naisbitt
All bad poetry springs from genuine feeling.
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