But when you make all these adjustments, you are still left with what appear to be cultural differences.

One of the five leading economists in America.

It has been by far the most significant institutional change within the profession.

The economy for next year looks like it is in very good condition. It looks much stronger than any other economy in the world, and he will try to find a way to take credit for it.

Young people favor cuts in benefits. Older people want increases in taxes. It's inherently divisive.

It was a reversal of irrational exuberance.

Anything that Greenspan says carries a lot of weight. He's become almost a cult figure.