Niall Ferguson: Financial Defect
on Sunday, October 23, 2022Meaning of Niall Ferguson Money Quote: saying the financial system shows what humans are truly like. Niall Ferguson said:
“If the financial system has a defect, it is that it reflects and magnifies what we human beings are like. Money amplifies our tendency to overreact, to swing from exuberance when things are going well to deep depression when they go wrong. Booms and busts are products, at root, of our emotional volatility” — Niall Ferguson
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