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Greenspan Speaks
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by azer | March 17, 2008 at 12:04 pm
373 views | 0 Recommendations | 4 comments
If you haven't read "The Age of Turbulence," yet, I suggest you run out to the nearest bookstore and pick-up a copy. It's a great read.
The highlighted article, written by Alan Greenspan, offers a quick look at the current housing market and at the use of statistical models to anticipate market trends.
We will never have a perfect model of riskIn the current crisis, as in past crises, we can learn much, and policy in the future will be informed by these lessons. But we cannot hope to anticipate the specifics of future crises with any degree of confidence. Thus it is important, indeed crucial, that any reforms in, and adjustments to, the structure of markets and regulation not inhibit our most reliable and effective safeguards against cumulative economic failure: market flexibility and open competition.
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Most RecentMost Recommended Comments (4)
at 12:14 on March 17th, 2008
Thanks for bringing the article to our notice!
at 12:34 on March 17th, 2008
(I really like Greenspans' style!)
at 17:25 on March 17th, 2008
Since I can not say it any better I'm linking you to Paul Krugman's post:
Greenspan lectures us again
at 18:00 on March 17th, 2008
That's okay. I guess for some of you guys there wasn't much new in what Greenspan had to say. For guys like me it's nice to read a simple text that tries to help me understand what's happening.
Regarding all the terribly negative sentiment thrown at Greenspan: It's nothing new. Lots of people get shit jobs; not many do well in these positions and none are perfect. Greenspan did good; much better than any reasonable person would have expected.