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Quote from John Mills,


"Panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works."


By:

John Mills (more quotes by John Mills or books by/about John Mills)

Source:

article read before the Manchester Statistical Society, December 11, 1867, on Credit Cycles and the Origin of Commercial Panics

Categories:

Capitalism, Crisis, Economics, Ignorance

Rating:

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