How good are markets in predicting real-world developments? Reading the record, it is striking how many calamities that I anticipated did not in fact materialise. Financial markets constantly anticipate events, both on the positive and on the negative side, which fail to materialise exactly because they have been anticipated. It is an old joke that the stock market has predicted seven of the last two recessions. Markets are often wrong.
George SorosRelated topics
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It is, in fact, nothing short of a miracle that the modern methods of instruction have not yet entirely strangled the holy curiosity of inquiry; for this delicate little plant, aside from stimulation, stands mainly in need of freedom; without this it goes to wreck and ruin without fail. It is a very grave mistake to think that the enjoyment of seeing and searching can be promoted by means of coercion and a sense of duty.
Albert Einstein
It is a matter of course and of absolute necessity to the conduct of business, that any discretionary businessman must be free to deal or not to deal in any given case; to limit or withhold the equipment under his control, without reservation. Business discretion and business strategy, in fact, has no other means by to work out its aims. So that, in effect, all business sagacity reduces itself in the last analysis to judicious use of sabotage.
Thorstein Veblen
We catched fish, and talked, and we took a swim now and then to keep off sleepiness. It was kind of solemn, drifting down the big still river, laying on our backs looking up at the stars, and we didn't ever feel like talking loud, and it warn't often that we laughed, only a kind of low chuckle. We had mighty good weather, as a general thing, and nothing ever happened to us at all, that night, nor the next, nor the next.
Mark Twain
Human beings are compelled to live within a lie, but they can be compelled to do so only because they are in fact capable of living in this way. Therefore not only does the system alienate humanity, but at the same time alienated humanity supports this system as its own involuntary master plan, as a degenerate image of its own degeneration, as a record of people's own failure as individuals.
Václav Havel
All the critics who could not make their reputations by discovering you are hoping to make them by predicting hopefully your approaching impotence, failure and general drying up of natural juices. Not a one will wish you luck or hope that you will keep on writing unless you have political affiliations in which case these will rally around and speak of you and Homer, Balzac, Zola and Link Steffens.
Ernest Hemingway