Kindleberger- the author of my book used a quotation from the French banker Martin in the South Sea Bubble of the 1700s a lot to demonstrate when it is rational to participate in an "irrational exuberance"- a mania- and it works in the other direction with panics.
Martin said "When the rest of the world are mad, we must imitate them is some measure." (Kindleberger 159)
No comments:
Post a Comment