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.


Quoted in Ben Laurance and William Keegan, "Galbraith on crashes, Japan and Walking Sticks," The Observer (1998-06-21)

John Kenneth Galbraith Quotes

When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637,...

When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637,...

When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637,...

When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637,...