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"Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles."
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"You have to learn when it's best to delegate those hard physical jobs to others while you tackle the heavy thinking."

"There are two kinds of warriors: those on the battlefield, and those in the boardroom; both are out to win. But the age of King Alexander has gone, and the age of Bill Gates has come."

"Good intentions are the best business."

"When I was a child, I used to wonder why markets in my locality were all situated near the main roads. I grew up a little to get the answer; " that business minded people can meet there easily!" Your dream must be situated where they can meet people!"

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Explore more quotes by Paul A. Volcker

"When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do."

"Well, by the standards of a lot of countries, by Latin American standards, it wasn't so bad."

"Double-digit inflation is a terrible thing - and it got up to 14 or 15 percent on a monthly basis for a while, shortly after I became chairman of the Fed."

"What's the subject of life - to get rich? All of those fellows out there getting rich could be dancing around the real subject of life."

"I am suspicious of the idea of a new paradigm, to use that word, an entirely new structure of the economy."

"You could not buy a house in those days without just assuming that the house was not only a place to live, but it was a good investment, because it was going to keep up with inflation or get ahead of inflation, and it was just - that was America."

"It was the biggest inflation and the most sustained inflation that the United States had ever had."

"By the time I became chairman and there was more of a feeling of urgency, there was a willingness to accept more forceful measures to try to deal with the inflation."

"The speed of communication, the speed of information transfer, the cheapness of communication, the ease of moving things around the world are a difference in kind as well as degree."

"Less emphasis on inventories, I think, may tend to dampen business cycles, because business cycles are typically in the grasp of inventory cycles and heavy industry cycles."
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