Alan Greenspan cannot see the future.

But participants at the National Governors' Association annual meeting Tuesday watched Greenspan as if they were seeing a fortune teller read from a crystal ball rather than an economist read a 25-minute speech about conceptual output.

The 74-year-old Greenspan, who recently accepted a fourth four-year term as Federal Reserve Board chairman, told the governors their policies would be pivotal to keep the economy running at high steam.

Greenspan spoke slowly, reading directly from a script.

In the new economy, computers have managed to make businesses more efficient and still keep unemployment rates low, Greenspan said.

"As a result, information technologies have begun to alter significantly how we do business and create economic value, often in ways that were not foreseeable even a decade ago," he said.

As Greenspan continued his remarks, he said good schools will be vital to sustaining the economy and he warned of a possible teacher shortage.

"Incorporating new technologies into the educational process is indeed likely to be an important element in improving our schools but it must involve more than simply wiring the classroom," Greenspan said. "Human capital — in the form of our teachers — and technology are complements in producing educational output just as they are in other business activities."

Greenspan said language, art and music education help children develop abstract thinking that helps them in the business world.

Penn State officials were probably hearing music to Greenspan's emphasis on the funding state governments allocate for higher education.

Parris Glendening, governor of Maryland and incoming NGA chairman, said he was especially impressed with the chairman's comments on education. But when he talked about Greenspan, who can practically control the rise and fall of the stock market with his words, Glendening was careful.

"I do not want to — neither me nor my colleagues — say anything or paraphrase anything that could be misinterpreted in a way that would be known as the 'Glendening Crash,'" Glendening joked.

Greenspan took no questions after the speech, but did make an unscripted remark after Utah Gov.. Michael Leavitt thanked him for his "warmth and genuineness."

"I was getting somewhat concerned that my reputation for obscurity was going to get ruined," Greenspan said. "I can resurrect it rather easily, though."