Charles P. Kindleberger famous quotes

Last updated: Sep 5, 2024

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

#Discovery #Assets #Fraud
The first derivative is the last refuge of a scoundrel.
-- Charles P. Kindleberger

#Lasts #Firsts #Derivatives
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 revivial, but finally giving up in the final collapse.
-- Charles P. Kindleberger

#Giving Up #Finals #Investing
Money is a public good; as such, it lends itself to private exploitation.
-- Charles P. Kindleberger

#Exploitation
Debasement was limited at first to oneâ€™s own territory. It was then found that one could do better by taking bad coins across the border of neighboring municipalities and exchanging them for good with ignorant common people, bringing back the good coins and debasing them again. More and more mints were established. Debasement accelerated in hyper-fashion until a halt was called after the subsidiary coins became practically worthless, and children played with them in the street, much as recounted in Leo Tolstoyâ€™s short story, Ivan the Fool.
-- Charles P. Kindleberger

#Fashion #Children #People
What matters to us is the revelation of the swindle, fraud, or defalcation. This makes known to the world that things have not been as they should have been, that it is time to stop and see how they truly are. The making known of malfeasance, whether by the arrest or surrender of the miscreant, or by one of those other forms of confession, flight or suicide, is important as a signal that the euphoria has been overdone. The stage of overtrading may well come to an end. The curtain rises on revulsion, and perhaps discredit.
-- Charles P. Kindleberger

#Suicide #What Matters #Important
There is nothing so disturbing to one's well-being and judgment as to see a friend get rich
-- Charles P. Kindleberger

#Judgment #Rich #Well Being
Much of the profession is empirically bankrupt because it is no longer taught economic history.
-- Charles P. Kindleberger

#Economic History #Taught #Economic

The process of my transformation came to a head with my discovery of St. Francis of Assisi during a pilgrimage I went on with a scout troop from my school.
To make a discovery is not necessarily the same as to understand a discovery. Not only Planck but also other physicists were intially at a loss as to what the proper context of the new postulate really was.
This [discovery of a cell-free yeast extract] will make him famous, even though he has no talent for chemistry.
Industrialization is the systemic exploitation of wasting assets. In all too many cases, the thing we call progress is merely an acceleration in the rate of that exploitation.
Your company's most valuable asset is how it is known to customers.
Our ability to manufacture fraud now exceeds our ability to detect it.
No one will find me to have knowingly committed fraud
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
I constantly think I'm a fraud, that this success is not warranted or justified.
A bad forgery's the ultimate insult.

Charles P. Kindleberger famous quotes

You may also like: