completely - and completely erroneous forecast of the famous Rudolf Hilferding, made in 1909 ("Financial Capital", Moscow - Leningrad: State Socio-Economic Publishing House, 1931. - P.345):
«parallel reduction the role of speculation, change and the psychology of the capitalist public. Psychology of the speculator is very primitive, although his fans and try to open it prophetic abilities and romantic poryvaniya a worldwide reformation. In fact, the changes that have occurred in the behavior of the speculating public sufficiently explained by the common place of capitalist man: live and learn - and not cum still stupid. It seems irrevocably passed those mass psychosis as engender speculation in the early capitalist era, those blissful days when every speculator felt like a god, creating world out of nothing. Fuss with tulips, with their so idyllic overtones, as a poetic love of flowers, humbug to the South sea stocks, surrounded by adventurist - exciting fantasy unprecedented discovery, draft Law on his prospects for world conquest, it's all pushed frank hunter for differential profit, but it ends up crash in 1873 Since then disappeared faith in the miraculous power of credit and Exchange ... Exchange shedding their faithful and retained only the priests, who from other faith do their gesheft ... uplifting and profitable extravagance evaporated, tulips have long faded, and coffee tree gives a trading profit, but does not present speculative profits. Prose poetry kills profits. "
All this is completely untrue and now, a hundred years after these words were written.
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