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Alan Greenspan
1926 -

Economist, former Chairman (1987-2005) of the Board of Governors of the U.S. Federal Reserve System which controls U.S. federal monetary policy, former Chairman (1974-1977) of the Council of Economic Advisors to Gerald Ford


I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.

1988 - from a speech to the Economic Club of New York
I'm very dubious of all sorts of government solutions. I do not think they work over the long run.

Jan. 12, 1998 - quoted by Associated Press at a forum discussion on community reinvestment at the California Museum of Science and Industry
While it is too soon to draw any definitive conclusions, [there is] some tentative evidence that basic, ongoing changes in the structure of the economy may be helping to hold down business costs and price pressures.

Mar. 05, 1996
Regulation - which is based on force and fear - undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. A fly-by-night securities operator can quickly meet all the S.E.C. requirements, gain the inference of respectability, and proceed to fleece the public. In an unregulated economy, the operator would have had to spend a number of years in reputable dealings before he could earn a position of trust sufficient to induce a number of investors to place funds with him. Protection of the consumer by regulation is thus illusory.

1963 - from an article in Ayn Rand's Capitalism: The Unknown Ideal
The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against Gold. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism towards the Gold Standard.

1966 - from Gold and Economic Freedom published in Ayn Rand's Capitalism: The Unknown Ideal (emphasis added, unfortunately Greenspan did not follow his own advice later in his career. Ed.)