The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and crash, driven by the insiders having exited but the sucker outsiders hanging on hoping for a… — Charles P. Kindleberger Copy Share Image
The propensity to swindle grows parallel with the propensity to speculate during a boom the implosion of an asset price bubble always leads to the discovery of frauds and swindles — Charles P. Kindleberger Copy Share Image
Debasement was limited at first to one’s own territory. It was then found that one could do better by taking bad coins across the… — Charles P. Kindleberger Copy Share Image
“In Chapter 5 we consider swindles and defalcations. It happens that crashes and panics often are precipitated by the revelation of some misfeasance, malfeasance,… — Charles P. Kindleberger Copy Share Image
Money is a public good; as such, it lends itself to private exploitation. — Charles P. Kindleberger Copy Share Image
The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and… — Charles P. Kindleberger Copy Share Image
“This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new… — Charles P. Kindleberger Copy Share Image
The propensity to swindle grows parallel with the propensity to speculate during a boom the implosion of an asset price bubble always leads to… — Charles P. Kindleberger Copy Share Image
Much of the profession is empirically bankrupt because it is no longer taught economic history. — Charles P. Kindleberger Copy Share Image
What matters to us is the revelation of the swindle, fraud, or defalcation. This makes known to the world that things have not been… — Charles P. Kindleberger Copy Share Image
There is nothing so disturbing to one's well-being and judgment as to see a friend get rich — Charles P. Kindleberger Copy Share Image
