"First they came for the Communists,
and I didn’t speak up,
because I wasn’t a Communist.
Then they came for the Jews,
and I didn’t speak up,
because I wasn’t a Jew.
Then they came for the Catholics,
and I didn’t speak up,
because I was a Protestant.
Then they came for me,
and by that time there was no one
left to speak up for me."
~ Martin Niemoller
The Speculator's Bootstrap and the Efficient Market
Submitted by Don Stacy on Tue, 2013-01-15 00:00
in
"Hieronymus Carl Friedrich von Münchhausen (1720-1797), also known as Baron von Munchausen, was a German nobleman who returned to his native Braunschweig after two decades of service in the Russian Imperial cavalry in the middle of the 18th century. He used to entertain dinner parties with deliberately caricatural tall stories of his adventures in far-flung lands. One of his exploits has become a much-used metaphor, now called the bootstrap theory, in the teaching of economics."
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