Alan Greenspan Late Quotations

Notwithstanding the demonstrable advantages of the new international financial system, the Mexican financial breakdown in late 1994 and, of course, the most recent episodes in East Asia and elsewhere, have raised questions about the inherent stability of this new system,

That greater tendency toward self-correction has made the cyclical stability of the economy less dependent on the actions of macroeconomic policy makers, whose responses often have come too late or have been misguided.

The economy suffered significant shocks in late summer and early autumn,