I think if you look back through time, the history of income, wealth and taxation is full of surprise. So I am not terribly impressed by those who know in advance what will or will not happen.
Thomas PikettyRead
Markets as well as mobs respond to human emotions; markets as well as mobs can be inflamed to their own destruction.
Interpretation
What this quote means
Both markets and mobs are influenced by human emotions, which can lead to negative consequences.
This quote highlights the power of human emotions in influencing collective behavior, whether in financial markets or social groups. When emotions run high, both markets and mobs can act irrationally, potentially leading to outcomes that are harmful or destructive. The comparison underscores the volatility of human behavior and the consequences that can arise from collective emotional responses, particularly in economic contexts.
Themes
MarketsEmotionsDestructionMobsBehavior
In practice
Example use cases
During a financial workshop to explain market volatility.
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