Manias, Casinos, Bubbles and Crashes

Download or read book Manias, Casinos, Bubbles and Crashes written by E. Ray Canterbery and published by Austin Macauley Publishers. This book was released on 2024-05-24 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: With incomparable wisdom, writing and analytical skills, and wit, world renowned economist E. Ray Canterbery traces the history of the major speculative episodes in the world economy over the last three centuries. He begins with Tulipmania and ends with bitcoin speculation in exposing the way in which normally sane people display reckless abandon in the pursuit of profit. Canterbery shows how our notoriously short financial memory is what creates the conditions for market collapse. Throughout, the market is considered sacrosanct, much to the regret of the losers. By recognizing certain signs and understanding what causes them we can guard against future collapses and have a better hold on the country’s (and our own) financial destiny.