---
title: "1 Refuge Scoundrel Quotes By Charles P. Kindleberger"
description: "1 Refuge Scoundrel quotes by Charles P. Kindleberger. Plus more from Charles P. Kindleberger and more Refuge Scoundrel sayings from other authors."
image: "https://sms4smile.com/quotes/i/bab/charles-p-kindleberger-40961_derivative_the-first-derivative-is-the-last-refuge_2939715.jpg"
---

> [The first derivative is the last refuge of a scoundrel.](https://sms4smile.com/quotes/charles-p-kindleberger/the-first-derivative-is-the-last-refuge-of-a-scoundrel/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

[Image](https://sms4smile.com/quotes/i/bab/charles-p-kindleberger-40961_derivative_the-first-derivative-is-the-last-refuge_2939715.jpg)

## More by Charles P. Kindleberger

> [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…](https://sms4smile.com/quotes/charles-p-kindleberger/debasement-was-limited-at-first-to-one-s-own-territory-it-was-then/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [“In Chapter 5 we consider swindles and defalcations. It happens that crashes and panics often are precipitated by the revelation of some misfeasance, malfeasance,…](https://sms4smile.com/quotes/charles-p-kindleberger/in-chapter-5-we-consider-swindles-and-defalcations-it-happens-that/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [Money is a public good; as such, it lends itself to private exploitation.](https://sms4smile.com/quotes/charles-p-kindleberger/money-is-a-public-good-as-such-it-lends-itself-to-private-exploitation/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and…](https://sms4smile.com/quotes/charles-p-kindleberger/the-period-of-financial-distress-is-a-gradual-decline-after-the-peak/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [“This book is an essay in what is derogatorily called "literary economics," as opposed to mathematical economics, econometrics, or (embracing them both) the "new…](https://sms4smile.com/quotes/charles-p-kindleberger/this-book-is-an-essay-in-what-is-derogatorily-called-literary/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [The propensity to swindle grows parallel with the propensity to speculate during a boom the implosion of an asset price bubble always leads to…](https://sms4smile.com/quotes/charles-p-kindleberger/the-propensity-to-swindle-grows-parallel-with-the-propensity-to/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [Much of the profession is empirically bankrupt because it is no longer taught economic history.](https://sms4smile.com/quotes/charles-p-kindleberger/much-of-the-profession-is-empirically-bankrupt-because-it-is-no/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [What matters to us is the revelation of the swindle, fraud, or defalcation. This makes known to the world that things have not been…](https://sms4smile.com/quotes/charles-p-kindleberger/what-matters-to-us-is-the-revelation-of-the-swindle-fraud-or/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [There is nothing so disturbing to one's well-being and judgment as to see a friend get rich](https://sms4smile.com/quotes/charles-p-kindleberger/there-is-nothing-so-disturbing-to-one-s-well-being-and-judgment-as-to/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

> [The first derivative is the last refuge of a scoundrel.](https://sms4smile.com/quotes/charles-p-kindleberger/the-first-derivative-is-the-last-refuge-of-a-scoundrel/)

[Charles P. Kindleberger](https://sms4smile.com/quotes/author/charles-p-kindleberger/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "ItemList",
            "@id": "https://sms4smile.com/quotes/about/refuge-scoundrel/charles-p-kindleberger/#itemlist",
            "name": "1 Refuge Scoundrel Quotes By Charles P. Kindleberger",
            "numberOfItems": 1,
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "item": {
                        "@type": "Quotation",
                        "text": "The first derivative is the last refuge of a scoundrel.",
                        "creator": {
                            "@type": "Person",
                            "name": "Charles P. Kindleberger"
                        },
                        "url": "https://sms4smile.com/quotes/charles-p-kindleberger/the-first-derivative-is-the-last-refuge-of-a-scoundrel/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/bab/charles-p-kindleberger-40961_derivative_the-first-derivative-is-the-last-refuge_2939715.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/bab/charles-p-kindleberger-40961_derivative_the-first-derivative-is-the-last-refuge_2939715.jpg",
                            "url": "https://sms4smile.com/quotes/i/bab/charles-p-kindleberger-40961_derivative_the-first-derivative-is-the-last-refuge_2939715.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“The first derivative is the last refuge of a scoundrel.” — Charles P. Kindleberger",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                }
            ]
        },
        {
            "@type": "CollectionPage",
            "@id": "https://sms4smile.com/quotes/about/refuge-scoundrel/charles-p-kindleberger/#webpage",
            "url": "https://sms4smile.com/quotes/about/refuge-scoundrel/charles-p-kindleberger/",
            "name": "Refuge Scoundrel Quotes by Charles P. Kindleberger",
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "mainEntity": {
                "@id": "https://sms4smile.com/quotes/about/refuge-scoundrel/charles-p-kindleberger/#itemlist"
            },
            "primaryImageOfPage": {
                "@id": "https://sms4smile.com/quotes/i/bab/charles-p-kindleberger-40961_derivative_the-first-derivative-is-the-last-refuge_2939715.jpg"
            },
            "description": "1 Refuge Scoundrel quotes by Charles P. Kindleberger. Plus more from Charles P. Kindleberger and more Refuge Scoundrel sayings from other authors.",
            "breadcrumb": {
                "@id": "https://sms4smile.com/quotes/about/refuge-scoundrel/charles-p-kindleberger/#breadcrumb"
            }
        },
        {
            "@type": "BreadcrumbList",
            "@id": "https://sms4smile.com/quotes/about/refuge-scoundrel/charles-p-kindleberger/#breadcrumb",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Topics",
                    "item": "https://sms4smile.com/quotes/categories/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "Refuge Scoundrel",
                    "item": "https://sms4smile.com/quotes/about/refuge-scoundrel/"
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "name": "Charles P. Kindleberger",
                    "item": "https://sms4smile.com/quotes/about/refuge-scoundrel/charles-p-kindleberger/"
                }
            ]
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```