The Birth of “Irrational Exuberance”mises.org/mises-wire/birth-irrational-exuberance
262 sats \ 4 comments \ @Rothbardian_fanatic 20h econ
Is John Law regarded as a charlatan today? Not whatsoever. The most influential economists of modern times regard Law with sympathy and respect. One eminent economic historian places Law in the “front ranks of monetary theorists of all time.” Others view him jealously for being the first economist to run an entire country, even if it meant running it into the ground. Saint-Simon concluded,
Irrational Exuberance screwed everyone in France except Cantillion who went to England. John Law was the founder of the printing press crew and did it to the max.
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10 sats \ 3 replies \ @Undisciplined 3h
Somehow, historians never seem to notice that they have the highest opinions of those who had the worst outcomes.
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25 sats \ 2 replies \ @Rothbardian_fanatic OP 3h
I have noticed that, too. However, I think that historians behave like scribes for the authorities and victors. Yes, Authoritas — SP
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10 sats \ 1 reply \ @Undisciplined 3h
“It says here in this history book that luckily, the good guys have won every single time. What are the odds?” -Norm MacDonald
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29 sats \ 0 replies \ @Rothbardian_fanatic OP 2h
I love it! Norm MacDonald has a keen sense of irony. I am happy to see he is not out and on the loose again, after his previous Cancellation! His sharp tongue has taken down many a self-important tw*t.
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