"The public psychology of going into debt for……" — Irving Fisher
"The public psychology of going into debt for gain passes through several more or less distinct phases: (a) the lure of big prospective dividends or gains in income in the remote future; (b) the hope of selling at a profit, and realizing a capital gain in the immediate future; (c) the vogue of reckless promotions, taking advantage of the habituation of the public to great expectations; (d) the development of downright fraud, imposing on a public which had grown credulous and gullible."
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Irving Fisher
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15 Quotes by Irving Fisher
Irving Fisher has 15 quotes on this site.
A few more worth reading:
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Stocks have reached what looks like a permanently high plateau.
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The rate of interest acts as a link between income-value and capital-value.
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Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but…
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How much there is I want to do! I always feel that I haven't time to accomplish what I wish.…
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The effort of the economist is to "see," to picture the interplay of economic elements. The more clearly cut these…
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There may be a recession in stock prices, but not anything in the nature of a crash.
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Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if…
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The end of the decline of the Stock Market will probably not be long, only a few more days at…
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For the immediate future, at least, the outlook (stocks) is bright.
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The real scientific study of the distribution of wealth has, we must confess, scarcely begun. The conventional academic study of…
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Our society will always remain an unstable and explosive compound as long as political power is vested in the masses and economic…
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The nation is marching along a permanently high plateau of prosperity
See all 15 quotes by Irving Fisher »