We can be confident that new jobs will displace old ones as they always have, but not without a high degree of pain for those caught in the job-losing segment of America's massive job-turnover process,
More Quotes from Alan Greenspan:
Over the past decade, the U.S. economy has benefited from a remarkable acceleration of productivity. But experience suggests that such rapid advances are unlikely to be maintained in an economy that has reached the cutting edge of technology.Alan Greenspan
only the peripheral winds of the Asian crisis.
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appears stretched in a number of directions.
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to stagnate or worse.
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We need, in effect, to make the phantom 'lock-boxes' around the trust fund real.
Alan Greenspan
The economic and financial world is changing in ways that we still do not fully comprehend, ... Policymakers accordingly cannot always count on an ability to anticipate potentially adverse developments sufficiently in advance to effectively address them.
Alan Greenspan
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