Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.

Meaning of the quote

Protectionism, or trying to protect jobs and businesses in your own country by limiting trade with other countries, won't really help create more jobs. In fact, if other countries retaliate and limit trade with your country, it's likely that you'll actually end up losing more jobs than you gain. The best way to create more jobs is to have open and fair trade with other countries, not try to shut them out.

About Alan Greenspan

Alan Greenspan, a renowned American economist, served as the 13th chairman of the Federal Reserve from 1987 to 2006. He was a private advisor and provided consulting services through his company, Greenspan Associates LLC. Greenspan’s tenure at the Federal Reserve was marked by both praise and criticism, with some arguing that his policies contributed to the dot-com bubble and the subprime mortgage crisis.

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More quotes from Alan Greenspan

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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.

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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.

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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

Alan Greenspan

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Alan Greenspan

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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.

Alan Greenspan

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Alan Greenspan

13th Chairman of the Federal Reserve in the United States

I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.

Alan Greenspan

13th Chairman of the Federal Reserve in the United States

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Alan Greenspan

13th Chairman of the Federal Reserve in the United States

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Alan Greenspan

13th Chairman of the Federal Reserve in the United States