I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan GreenspanRead
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.
Interpretation
The stock market's rise can significantly boost the economy, regardless of predictions.
Alan Greenspan's quote emphasizes the crucial role the stock market plays in stimulating economic growth. While he acknowledges uncertainty about its future direction, he suggests that a rising stock market can have a more profound positive effect on the economy than the discussions and policies being considered at the time.
In practice
This quote can be used in a business presentation to underline the impact of stock market fluctuations on the overall economy.
I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
There's no other job in public life that is like chairman of the Fed.
Since 1948 I have spent every single day thinking how the economic and political worlds have changed.
Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
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.
I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it's a government or an individual.
Central planning didn't work for Stalin or Mao, and it won't work for an entrepreneur either.
No bank should be too big or too complex to fail, but almost any bank is too big to liquidate quickly, particularly in the midst of a crisis.
Thus, the weight of my criticism is directed against the inadequacy of the theoretical foundations of the laissez-faire doctrine upon which I was brought up and for many years I taught
Economics is a highly sophisticated field of thought that is superb at explaining to policymakers precisely why the choices they made in the past were wrong. About the future, not so much.
Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.
Although we work through financial markets, our goal is to help Main Street, not Wall Street.
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