Alan Greenspan
Alan Greenspan
Alan Greenspanis an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position...
NationalityAmerican
ProfessionEconomist
Date of Birth6 March 1926
CityNew York City, NY
CountryUnited States of America
competition delivering driving force necessary product shy superior toward
Competition is the necessary driving force toward delivering a superior product or service, ... We should not shy away from it.
competition country highly order people productive protection realize skilled staff standard united
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.
below cessation income inevitable inventory lift production running spending
With production running well below sales, the lift to income and spending from the inevitable cessation of inventory liquidation could be significant,
below continue experience far found historical increasing meet orders possible processes production seem stepping surprising thus
New hires and recalls from layoffs... are far below what historical experience indicates, ... To a surprising degree, firms seem to be able to continue identifying and implementing new efficiencies in their production processes and thus have found it possible so far to meet increasing orders without stepping up hiring.
asian conditions currently economies energy extent pace prices product recovery severe strength
The extent and pace of recovery of Asian economies currently experiencing a severe downturn will have important ramifications for prices of energy and other commodities, the strength of the dollar, and competitive conditions on world product markets,
difficult productivity
Productivity is notoriously difficult to predict.
both capability cuts cutting deficit large presume productive taxes
We should not be cutting taxes by borrowing, ... We do not have the capability of having both productive tax cuts and large expenditure increases, and presume that the deficit doesn't matter.
capacity concept dealing employ facilities production rigid
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.
demand falling household income increase industrial inventory production products rate rise slowing stable
A slowing in the rate of inventory liquidation will induce a rise in industrial production if demand for those products is stable or is falling only moderately, ... That rise in production will, other things being equal, increase household income and spending.
borrowers both cause concern enable expose highly homes inflated mortgage products purchase risk seen standard vehicles
These products could be cause for some concern both because they expose borrowers to more interest-rate and house-price risk than the standard 30-year, fixed-rate mortgage and because they are seen as vehicles that enable marginally qualified, highly leveraged borrowers to purchase homes at inflated prices,
gradual slowly test
We have to do it in a cautious, gradual way. ... (We) should go slowly and test the waters.
fall few inflation next pickup though unwelcome
The probability of an unwelcome substantial fall in inflation over the next few quarters, though minor, exceeds that of a pickup in inflation.
america creation education higher knowledge research scale scope shaped teaching training
The scale and scope of higher education in America was being shaped by the recognition that research -- the creation of knowledge --complemented teaching and training -- the diffusion of knowledge,
asset assisted boost businesses earlier economic environment households improved left prices
These changes, assisted by improved prices in asset markets, have left households and businesses better positioned than they were earlier to boost outlays as their wariness about the economic environment abates,