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A comment on A critique of the claim that passive investing is a bubble. Parent comment
But the position is serious when enterprise becomes the bubble on a whirlpool of speculation.
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
(John Maynard Keynes, General Theory, Chapter 12, page 142 in the Google Book edition)
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But the position is serious when enterprise becomes the bubble on a whirlpool of speculation.
When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
(John Maynard Keynes, General Theory, Chapter 12, page 142 in the Google Book edition)