The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
More Quotes from Alan Greenspan:
While these forms of protection have often been imposed under the label of promoting so-called 'fair trade,' oftentimes they are just simple guises for inhibiting competition.Alan Greenspan
The recent data still exhibit deterioration, ... The question of most fundamental importance is how long will that continue and where will it spread, and where will the stampede of buffalo stamp all over us before we can stem this.
Alan Greenspan
I think people are going to be quite surprised at their heating bills this winter,
Alan Greenspan
The capacity of workers, after being displaced, to find a new job that will eventually provide nearly comparable pay most often depends on the general knowledge of the worker and the ability of that individual to learn new skills,
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My basic concern, ... is that, if we are forced to implement a very significant unilateral tariff, the dangers to the overall international financial system, in my judgment, are very large.
Alan Greenspan
Besides feared shortfalls in crude oil capacity, the status of world refining capacity has become worrisome as well,
Alan Greenspan
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