Pop!: Why Bubbles Are Great For The Economy
Pop!: Why Bubbles Are Great For The Economy
Publisher: Collins Business | ISBN: 0061151548 | edition 2007 | PDF | 240 pages | 1,11 mb
Publisher: Collins Business | ISBN: 0061151548 | edition 2007 | PDF | 240 pages | 1,11 mb
Bubbles—from hot stocks in the 1920s to hot stocks in the 1990s—are much-lamented features of contemporary economic life. Time and again, American investors, seduced by the lures of quick money, new technologies, and excessive optimism, have shown a tendency to get carried away. Time and again, they have appeared foolish when the bubble burst. The history of finance is filled with tragic tales of shattered dreams, bankruptcies, and bitter recriminations. But what if the I-told-you-so lectures about bubbles tell only half the story? What if bubbles accomplish something that can only be seen in retrospect? What if the frenzy of irrational economic enthusiasm lays the groundwork for sober-minded opportunities, growth, and innovation? Could it be that bubbles wind up being a competitive advantage for the bubble-prone U.S. economy?
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