Economic bubbles often grow due to misplaced faith. When they burst, it's a sign that the faith of those involved has wavered enough that the bubble cannot be supported any longer. I think it's a fair example of faith in action. During the dot-com boom in the 1990s, a lot of people had faith that companies with poor prospects for making money would nonetheless make so much money that millions (possibly billions) of dollars were sunk into them. It was faith that kept people buying $430 shares of Yahoo stock when the company had reached valuations higher than $110 billion in 1999.
People do have faith in many things, and when it comes to god and money that faith can be extremely irrational.
People do have faith in many things, and when it comes to god and money that faith can be extremely irrational.
"Well, evolution is a theory. It is also a fact. And facts and theories are different things, not rungs in a hierarchy of increasing certainty. Facts are the world's data. Theories are structures of ideas that explain and interpret facts. Facts don't go away when scientists debate rival theories to explain them. Einstein's theory of gravitation replaced Newton's in this century, but apples didn't suspend themselves in midair, pending the outcome. And humans evolved from ape- like ancestors whether they did so by Darwin's proposed mechanism or by some other yet to be discovered."
-Stephen Jay Gould
-Stephen Jay Gould
