Top 6 Charles P. Kindleberger Quotes (2025 Update)

1. “There is nothing so disturbing to one’s well-being and judgment as to see a friend get rich.”

— Charles P. Kindleberger

2. “The first derivative is the last refuge of a scoundrel.”

— Charles P. Kindleberger

3. “Much of the profession is empirically bankrupt because it is no longer taught economic history.”

— Charles P. Kindleberger

4. “The propensity to swindle grows parallel with the propensity to speculate during a boom the implosion of an asset price bubble always leads to the discovery of frauds and swindles.”

— Charles P. Kindleberger

5. “The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and crash, driven by the insiders having exited but the sucker outsiders hanging on hoping for a revivial, but finally giving up in the final collapse.”

— Charles P. Kindleberger

6. “Money is a public good; as such, it lends itself to private exploitation.”

— Charles P. Kindleberger

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