There is nothing so disturbing to one's well-being and judgment as to see a friend get rich.
- Charles Kindleberger
The great research on financial panics always had greater insights on the human condition. 2010 will be a period where envy may get in the way of good economic policy. But then that has usually been the case.
Ignorance more frequently begets confidence than does knowledge.
- Charles Darwin
This can explain some of the winners of the Darwin awards.
Panics do not destroy capital. they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works.
-John Stuart Mills
This may be one of the best single comments on the impact of panics.
There is only one difference between a bad and good economist. the bad one confines himself to the visible effect, the good economist takes into account both the effect that can be seen and those effects than cannot be foreseen.
-F Bastiat
The essential Greenspan legacy is the idea that the Fed will allow nothing to go wrong.
-James Grant
The Greenspan put is alive and well regardless of what government officials say about moral hazard problems.
The superior man understand what is right, the inferior man understands what will sell.
-Confusius
No comments:
Post a Comment