"What we need to understand is, one, that there are market failures; and two, that there are things like asset bubbles and irrational exuberance. There are periods of booms, bubbles, and manias. These things, if left to themselves, can lead to crashes, to busts, to panics."

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All of Chinese thinking - Confucianism, Taoism, as well as Buddhism - contains the idea that in the course of life, man will shape harmoniously those psychic and physical predispositions that he received as capital assets by unifying them and giving them form from within a center.

— Richard Wilhelm