Quote – Alan Greenspan

Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s "invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates.

The Financial Times op-ed, "Dodd-Frank Fails To Meet the Test of Our Times".

Tuesday, March 29, 2011