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Quotes by Economists
Quotes by Economists
Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy.
Alan Greenspan
People
Sometimes
Markets
Weird
Weird Things
Because
How
Very
Behave
Little
Things
We're a democratic society. Shutting down the government should not be on the agenda.
Alan Greenspan
Government
Down
Society
Democratic
Democratic Society
Agenda
Should
Shutting
Diplomacy is really far less important than the stock movements within Russia.
Alan Greenspan
Diplomacy
Important
Russia
Within
Stock
Than
Movements
Far
Far Less
Really
Less
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.
Alan Greenspan
Fall
Living
Increased
Increasing
Our
Jobs
More
Output
Implies
Surely
Trade
Goal
Than
Cannot
Productivity
Standards
Consequence
One of the problems with hedge funds is that they are changing so rapidly. If you have the balance sheet that closed business last night, by 11 A.M. this morning, that won't tell you very much about what they're doing.
Alan Greenspan
Morning
You
Business
Balance
Problems
Closed
Changing
Tell
One Of The Problems
Rapidly
About
Sheet
Doing
Very
Hedge
Much
Last
Funds
Night
Last Night
I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
Alan Greenspan
Music
Good
Business
Band
Music Business
Enrolled
Rise
Only
Could
Soon
New
Limit
How
How Far
Amateur
Left
York
New York
Far
Average
Realized
Professional
University
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 a proposition with facts and figures, it was without merit.
Alan Greenspan
Logical
Met
Before
Believe
Otherwise
Rand
Moral
Facts
Absolutes
Proposition
Merit
Without
Prove
Accordingly
Figures
I'm not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
Alan Greenspan
Nature
Resolve
Easy
Through
Terrible
Readily
Am
Denying
Legislation
Them
Things
Monopolies
I get so engaged when I have a problem you cannot solve that I just cannot break away from what I am doing - I keep thinking and thinking and cannot stop.
Alan Greenspan
You
Problem
Thinking
Solve
Am
Doing
Get
Just
Stop
Break
Cannot
Engaged
Keep
Away
I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading. So I made an economic decision, and it turned out the best judgment I ever made in my life.
Alan Greenspan
Life
Best
Good
Business
Decision
Made
My Life
Big
Judgment
Band
Saw
Musician
Out
One Thing
Economic
Fading
Fairly
Big Band
Amateur
The One Thing
Average
Turned
Professional
Ever
Thing
Forecasting our futures is built into our psyches because we will soon have to manage that future. We have no choice. No matter how often we fail, we can never stop trying.
Alan Greenspan
Future
Matter
Will
Our
Futures
No Choice
Never
Fail
Never Stop
Soon
Because
Forecasting
Built
How
Trying
Manage
Often
Stop
Choice
I wasn't able to do much reading when I was chairman of the Reserve Board. The workload was too large, and the luxury of reading was not available to me. So I caught up a good deal when I left office.
Alan Greenspan
Good
Me
Luxury
Reading
Too
Able
Deal
Caught
Left
Up
Office
Board
Available
Much
Large
Good Deal
Chairman
Reserve
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
Nature
Animal
Events
Random
Human Nature
Those
Spirits
Fact
New
Qualities
Always
Existence
Replicate
Human
Which
Create
Believed
Actually
When you go back and look at American history, it's not terribly different from Canadian history. If you weren't self-reliant on the prairie, you wouldn't survive.
Alan Greenspan
History
You
Back
Look
Terribly
Prairie
Self-Reliant
Go
Were
Survive
Canadian
American
Different
American History
The only way to have several currencies from divergent nations lumped together is if they are culturally close, such as Germany, the Netherlands and Austria. If they aren't, it simply can't continue to work.
Alan Greenspan
Work
Together
Way
Several
Divergent
Netherlands
Only
Simply
Continue
Austria
Close
Germany
Nations
Lumped
It is very difficult to predict when a bond crisis could happen.
Alan Greenspan
Predict
Difficult
Crisis
Could
Very
Happen
Bond
You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.
Alan Greenspan
You
Bitcoin
Value
Somebody
Imagination
Else
Intrinsic
Able
Been
Infer
Maybe
Really
Your
Stretch
Every economy exists, no matter what the level of democracy, has elements of crony capitalism. It's - given human nature and given the democratic structures, which we all, I assume, adhere to, that is an inevitable consequence.
Alan Greenspan
Nature
Democracy
Capitalism
Matter
Inevitable
Human Nature
Every
Assume
Adhere
Given
Structures
Economy
Democratic
Exists
Human
Which
Elements
Level
Consequence
The problem is you cannot have free global trade with highly restrictive, regulated domestic markets.
Alan Greenspan
You
Problem
Free
Markets
Restrictive
Highly
Global
Trade
Domestic
Cannot
I'm a free-market economist from years and years back, and I've never veered from that.
Alan Greenspan
Back
Never
Economist
Years
Years And Years
I think the whole issue of a debt ceiling makes no sense to me whatsoever. Anybody who is remotely adroit at arithmetic doesn't need a debt ceiling to tell you where you are.
Alan Greenspan
Me
You
Sense
Think
Tell
No Sense
Arithmetic
Remotely
Makes
Issue
Ceiling
Debt
Debt Ceiling
Whatsoever
Anybody
Where
Who
Whole
Need
It's only when the markets are perceived to have exhausted themselves on the downside that they turn. Trying to prevent them from going down just merely prolongs the agony.
Alan Greenspan
Exhausted
Down
Markets
Prolongs
Perceived
Only
Prevent
Merely
Trying
Going
Just
Them
Turn
Themselves
Agony
Downside
There's no other job in public life that is like chairman of the Fed.
Alan Greenspan
Life
Job
Other
Fed
Like
Public
Public Life
Chairman
The central focus of what we are doing at the Fed is to keep inflation from accelerating - and preferably decelerating.
Alan Greenspan
Inflation
Focus
Fed
Accelerate
Doing
Central
Keep
Manufacturing capacity is not a rigid level against which one bounces. When you are dealing with a world economy, with a flexibility to employ production facilities other than one's own, then the concept of capacity is vaguer.
Alan Greenspan
You
World
Own
Other
Rigid
Facilities
Economy
Employ
Concept
Dealing
Than
Which
Against
Capacity
Then
Production
Flexibility
Manufacturing
World Economy
Level
Patents are like fertilizer. Applied wisely and sparingly, they can increase growth. But if you apply too many chemicals, or make patents too strong, then you can leach the land, making growth more difficult.
Alex Tabarrok
You
Strong
Difficult
Increase
Too
More
Wisely
Like
Make
Chemicals
Making
Fertilizer
Patents
Land
Sparingly
Then
Many
Growth
Applied
Apply
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