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It has become increasingly evident, at least among those who aren't currency traders or true believers in the optimality of free markets, that it would be nice if this system could calm down a touch. One option is the Tobin tax, which would impose a tax of around 0.1 percent on currency trades, and act as a kind of damper on speculation.

— David Orrell The Other Side Of The Coin (2008)

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More quotes by David Orrell

Perfect order is boring, perfect randomness is boring, but complex systems are interesting.

The Other Side Of The Coin (2008)

Orthodox tools based on a normal distribution therefore fail exactly where they are most needed, at the extremes.

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The market can quickly seize up. Prices don't adjust in a smooth continuous fashion, but instead abruptly reconfigure themselves, like the earth's crust during an earthquake.

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For even money itself has no value if there is no network of people to recognize it.

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A society in which each person is hell bent on maximizing his or her own utility, may therefore have declining overall utility.

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Quote text and notes from Wikiquote: David Orrell (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.