Free lunch strategies have a habit of self-destructing. The Swiss economist Eugene Boehler had the context of such false and unsustainable images in mind when he noted that the 'modern economy is as much a dream factory as Hollywood.' It is based only a small part on real needs, and for the greatest part on fantasy and myth, he claimed. The stock exchange, far from ruling economic life, is at the mercy of tides of collective make-believe. Depressions come about when there is a loss of economic myth - (Eugene Boehler 'Der Mythus in der Wirtschaft,' Industrielle Organization, XXXI, 1962.) |
