Exogenous Quotes
More Exogenous Quotes
Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones.It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.
george soros— On the 1997 Asian Financial Crisis
Technological change can become 'fetishized' as a 'thing in itself', as an exogenous guiding force in the history of capitalism.
david harvey— Chapter 4, Technology, Labour Process And Value, p. 122
