John Mills Quote

“As a rule, panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works.”

~ John Mills

article read before the Manchester Statistical Society, December 11, 1867, on Credit Cycles and the Origin of Commercial Panics

Ratings and Comments

Nadine, Cary, NC

Excellent, and all too relevant to today's capital crisis!

I just wish I knew more about John Mills.

bruski, naples FL

"Too big to fail" and "Too big to Jail" are very bad precedents that have been set.

The Banksters and our "leaders" need discipline and so far we have failed in doing our duty.




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