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Alan Greenspan

Alan Greenspan Quotes

Economist

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Famous Alan Greenspan Quotes

“The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses...While these tendencies were no doubt in train in the "old," pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.”

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“Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank... need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.”

NeedsSometimesChoicesGivenDecisionEconomyPathRiskPolicyParticularKeysCostBenefitsJudgmentAspectManagementVariousAlternativesOutcomesMakersProbabilityDistributionIncompleteRisk ManagementCentral BanksDecision MakersIncomplete Knowledge
Author:Alan Greenspan
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“And whatever their publicized angst over Saddam Hussein's 'weapons of mass destruction,' American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy. I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.”

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Author:Alan Greenspan
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