Charles P. Kindleberger Quotes

Enjoy the top 9 famous quotes, sayings and quotations by Charles P. Kindleberger.

Charles P. Kindleberger Quotes

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 —

Money is a public good; as such, it lends itself to private exploitation.

— Charles P. Kindleberger

The first derivative is the last refuge of a scoundrel.

— 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 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 Tolstoy's short story, Ivan the Fool.

— Charles P. Kindleberger

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