Rositza Yaneva

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John Kenneth Galbraith
“The man who is admired for the ingenuity of his larceny is almost always rediscovering some earlier form of fraud. The basic forms are all known, have all been practiced. The manners of capitalism improve. The morals may not.”
John Kenneth Galbraith, The Age of Uncertainty

Jack Kerouac
“I realized these were all the snapshots which our children would look at someday with wonder, thinking their parents had lived smooth, well-ordered lives and got up in the morning to walk proudly on the sidewalks of life, never dreaming the raggedy madness and riot of our actual lives, our actual night, the hell of it, the senseless emptiness.”
Jack Kerouac, On the Road

Robert J. Shiller
“Irrational exuberance is the psychological basis of a speculative bubble. I define a speculative bubble as a situation in which news of price increases spurs investor enthusiasm, which spreads by psychological contagion from person to person, in the process amplifying stories that might justify the price increases and bringing in a larger and larger class of investors, who, despite doubts about the real value of an investment, are drawn to it partly through envy of others’ successes and partly through a gambler's excitement.”
Robert J. Shiller, Irrational Exuberance

Joseph A. Schumpeter
“However, whether favorable or unfavorable, value judgments about capitalist performance are of little interest. For mankind is not free to choose. This is not only because the mass of people are not in a position to compare alternatives rationally and always accept what they are being told. There is a much deeper reason for it. Things economic and social move by their own momentum and the ensuing situations compel individuals and groups to behave in certain ways whatever they may wish to do—not indeed by destroying their freedom of choice but by shaping the choosing mentalities and by narrowing the list of possibilities from which to choose.”
Joseph Alois Schumpeter, Capitalism, Socialism, and Democracy

John Kenneth Galbraith
“The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.”
John Kenneth Galbraith, The Great Crash 1929

year in books
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1,034 books | 79 friends

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Cat
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Assia
272 books | 40 friends

Irina
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Radostina
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George ...
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