Peter Garber
The jargon of economics and finance contains numerous colourful terms for market-asset prices at odds with any reasonable economic explanation. Examples include bubble, tulipmania, chain letter, Ponzi scheme, panic, crash, herding and irrational exuberance. Although such a term suggests that an event is inexplicably crowd-driven, what it really means, claims Peter Garber, is that we have grasped a near-empty explanation rather than expend the effort to understand the event.
Economics,History,Historical,Nonfiction
Famous First Bubbles: The Fundamentals of Early Manias