Then suddenly, during the wildly speculative "bubble" period when land and stock prices soared in the late 80's, management practices became as loose as the period was overly optimistic.
The speculative boom periods that ended a few years ago carried us into such overuse, and today's malaise is partly a result of our disorientation from that period.
On the other hand, the Comtean three stages view of history, with its claim about the historical transcendence of speculative and metaphysical periods of science by a final period of experimental science governed by determinate laws, placed Darwinism in a metaphysical phase of speculative nature philosophy, as captured in the Bernard quote above.
People could be heard saying things like "I'm interested in the Victorians, especially the supernatural and speculative literature of the period".
They believe that after the economy goes through a period of speculative excess, it must then pay for that excess with a slump.
Analysts said regulators face huge challenges in distinguishing normal volatility, which is always high during a chaotic economic period, from speculative swings propelled by investors seeking purely financial gains who end up distorting energy prices.
Second, it was not a one-off event, but instead the culmination of a period of speculative excess that spawned smaller, but still serious, financial upsets around the world in the preceeding years.
For Dubravka Sekulic, who has written extensively on the effects of privatisation on public space in Belgrade, "the city developed in the post-socialist period of speculative capitalism all of a sudden seems too cruel, as if it's an aberration caused by the proximity of socialism, and not the usual state of affairs in capitalism".
This far exceeds anything previously experienced by any emerging economy.Michael Pettis, an economist at Peking University's Guanghua School of Management, reckons that speculative inflows during that period were perhaps well over $200 billion, because hot money also comes into China through companies overstating FDI and over-invoicing exports.
