This explains the moral root of our economic crisis

Panics, Manias and Crashes: A Constant in Modern Economy

by Gary Isbell

Frenetic Intemperance is a term coined to describe a restless and reckless spirit inside certain sectors of modern economy that foments a destabilizing drive to throw off legitimate restraints and gratify all desires.

The term is explained in the soon-to-be-released book, Return to Order: From a Frenzied Economy to an Organic Christian Society – Where We’ve Been, How We Got Here, and Where We Need to Go by John Horvat II.

This book presents the moral solution to the economic crisis.

You can order at a 30% presale discount until Jan. 26

Some people might think this term may be a bit exaggerated or undocumented. However, this imbalance (Frenetic Intemperance) is so real that modern business literature is full of expressions that illustrate the reality of this reckless spirit that constantly destabilizes markets.

Financial historian Charles Kindleberger invites his readers to consider some phrases that are very expressive of this relentless drive.

His listing includes: “manias… insane land speculation… blind passion… financial orgies… frenzies… feverish speculation… epidemic desire to become rich quick… wishful thinking… intoxicated investors… turning a blind eye… people without ears to hear or eyes to see… investors living in a fool’s paradise… easy credibility… overconfidence… overspeculation… overtrading… a raging appetite… a craze… a mad rush to expand” (Charles P. Kindleberger, Robert Aliber, Manias, Panics, and Crashes: A History of Financial Crises, Hoboken, N.J.: John Wiley & Sons, Inc., 2005. p. 40).