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John Kenneth Galbraith

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When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637, speculation has always been covered by a new paradigm. There was never a paradigm so new and so wonderful as the one that covered John Law and the South Sea Bubble — until the day of disaster.
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Quoted in Ben Laurance and William Keegan, "Galbraith on crashes, Japan and Walking Sticks," The Observer (1998-06-21)

 
John Kenneth Galbraith

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