Greenspan praises labor flexibility

In a speech prepared for the Bank of Mexico's 80th Anniversary International Conference in Mexico City, departing US Federal Reserve president Alan Greenspan argued that policymakers can promote economic stability by enabling a flexible economic environment.

"Flexibility is most readily achieved by fostering an environment of maximum competition. A key element in creating this environment is flexible labor markets. Many working people equate labor market flexibility with job insecurity. Despite

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