Aleksandr Solzhenitsyn Quotes
This is a grave danger: the stoppage of information between the parts of the planet. Contemporary science knows that such stoppage is the way of entropy, of universal destruction.
Solzhenitsyn, Aleksandr. Nobel Lecture. Translated by F.D. Reeve, Farrar, Straus and Giroux, 1972.
An economic bubble occurs when the investing public with little logic and facts to support it actions exhibits great enthusiasm and overvalues some kind of asset with the logic that the price is going up and someone later will pay more than I just did—sometimes called the “greater fool theory”. Historically Fama claims that there were no bubbles until there were media to whip up the irrational enthusiasm necessary for a bubble to take place. Capitalist history is full of bubbles ranging from real estate, to tulips; from silver to dot com shares. The damage is always great to the people at the end who are stuck with the object of the bubble which few people want any more. In the period before the bubble, lots of people make money contributing to the demand for the object of the bubble.
Aleksandr Isayevich Solzhenitsyn was a Russian novelist, philosopher, historian, short story writer and political prisoner. One of the most famous Soviet dissidents, Solzhenitsyn was an outspoken critic of communism and helped to raise global awareness of human rights abuses, the Gulag concentration camp system and political repression in the Soviet Union.