Marshall McLuhan Quotes
The medium is the message.
Marshall McLuhan, 1911-1980, Canadian writer, Understanding Media, 1964
Sourced by: Eigen's Political and Historical Quotations
An economic bubble occurs when the investing public with little logic and facts to support it actions exhibits great enthusiasm and overvalues some kind of asset with the logic that the price is going up and someone later will pay more than I just did—sometimes called the “greater fool theory”. Historically Fama claims that there were no bubbles until there were media to whip up the irrational enthusiasm necessary for a bubble to take place. Capitalist history is full of bubbles ranging from real estate, to tulips; from silver to dot com shares. The damage is always great to the people at the end who are stuck with the object of the bubble which few people want any more. In the period before the bubble, lots of people make money contributing to the demand for the object of the bubble.
Herbert Marshall McLuhan CC was a Canadian philosopher, whose work is among the cornerstones of the study of media theory. Born in Edmonton, Alberta, and raised in Winnipeg, Manitoba, McLuhan studied at the University of Manitoba and the University of Cambridge. He began his teaching career as a professor of English at several universities in the US and Canada before moving to the University of Toronto in 1946, where he remained for the rest of his life.
