Alan Greenspan

Date of Birth:

06-Mar-1926

Nationality:

United States

Profession:

Economists

Alan Greenspan is an American economist who served as chairman of the US Federal Reserve from 1987 to 2006. He had a successful consultative career before being elected chairman by President Ronald Reagan and was re-elected four times in a row until his retirement, the second longest in office. Ayn Rand's best friend, was greatly influenced by his thoughts and ideas. He embraced his philosophy of individual effort, his passion and the capitalism of laissez-faire. As Chairman of the Council of Economic Advisers, during the tenure of President Gerald Ford, he promoted policies that led to a sharp decline in prices. As Chairman of the Board of State, his monetary policy was aimed at avoiding the risk of inflation and recession. He foresaw that growth rates and stock prices would reach a point of fulfillment and warned the public about it. He is credited with the official increase in official history in American history. He was recognized as one of the most powerful and influential people in the world and has been awarded many awards and honors. However, in 2011 his picture hit when the Financial Audit Commission found that its policies were too numerous over time.

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Alan Greenspan

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QUOTES BY Alan Greenspan

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant"

"Finance is wholly different from the rest the economy."

"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."

"Any informed borrower is simply less vulnerable to fraud and abuse."

"I'm a free-market economist from years and years back, and I've never veered from that."

"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."

"If somebody had said to me in June or July of 1987, 'We'd like you to become chairman of the Federal Reserve, but you're never allowed to discuss any economics after you leave,' I'd have said, 'Forget it.' What do they want me to do? Become an anthropologist?'"

"Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours."

"The person I liked the best was Gerald R. Ford. He was the most decent man in politics I ever had any relationships with."