I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan GreenspanRead
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.
Interpretation
What this quote means
Deficit spending hides the loss of wealth, while gold protects property rights.
This quote by Alan Greenspan highlights the dangers of deficit spending, suggesting that it leads to a covert loss of wealth for individuals. Greenspan posits that gold serves as a safeguard against inflation and economic policies that could erode private property rights, emphasizing its importance in maintaining financial stability and individual wealth.
Themes
Deficit SpendingWealthGoldProperty RightsInflation
In practice
Example use cases
During a financial seminar on investment strategies.
More from Alan Greenspan
All quotes βThere's no other job in public life that is like chairman of the Fed.
Alan GreenspanRead
Since 1948 I have spent every single day thinking how the economic and political worlds have changed.
Alan GreenspanRead
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.
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.
Alan GreenspanRead
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.
Alan GreenspanRead
Similar quotes
China adopted a capitalist system in the 1980s, and they went from a 60% poverty rate to 10%.
Bill GatesRead
The high cost of housing is crushing poor families and sending them to a state of desperation.
Matthew DesmondRead
Competition is the most promising means to achieve and secure prosperity. It alone enables people in their role of consumer to gain from economic progress. It ensures that all advantages which result from higher productivity may eventually be enjoyed.
Ludwig ErhardRead
Socialism failed because it couldn't tell the economic truth. Capitalism may fail because it couldn't tell the ecological truth.
Lester R. BrownRead
The market economy-capitalism-is a social system of consumers' supremacy.
Ludwig Von MisesRead
The more the division of labor and the application of machinery extend, the more does competition extend among the workers, the more do their wages shrink together.
Karl MarxRead