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"Banknotes depend on confidence," Felix told me.
More than anything else, corporate debtors depend on confidence.
"Consumer spending is not as weak as it was in the first quarter, but a lot will depend on confidence.
But the Argentine experience actually underscores the degree to which all modern financial systems depend on confidence, and the problems that erupt when that confidence disappears.
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And there was the "dangerous cliché that in the financial world everything depends on confidence.
Everything depends on confidence in the market – so the more volatile the market, the sooner it will crash.
This is a compelling question, especially in individual competition, where so much depends on confidence, mental toughness and luck.
Any bank depends on confidence and the last few months have been turbulent for Grameen's 22,000 employees and 8.36 million borrowers, 97% of whom are women.
It's a reminder, too, of how much good golf depends on confidence — on feeling good about yourself, as the self-help gurus say.
As Galbraith, a scholar of speculative excess, pointed out when referring to Kreuger: "There is the dangerous cliché in the financial world [that] everything depends on confidence.
The business depends on confidence; no bank can survive if its depositors (or its wholesale lenders) all want their money back at once.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com