Famous First Bubbles The Fundamentals of Early Manias

Name: Famous First Bubbles The Fundamentals of Early Manias
Price: 5.6 USD
Availability: InStock
ISBN: 9780262571531

ISBN-10: 0262571536

ISBN-13: 9780262571531

Edition: 2001 (Reprint)

Authors: Peter M. Garber

List price: $25.00

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Description:

The jargon of economics and finance contains numerous colorful 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. In this book Garber offers market-fundamental explanations for the three most famous bubbles: the Dutch Tulipmania (1634-1637), the Mississippi Bubble (1719-1720), and the closely connected South Sea…

Book details

List price: $25.00
Copyright year: 2001
Publisher: MIT Press
Publication date: 8/24/2001
Binding: Paperback
Pages: 175
Size: 5.25" wide x 8.00" long x 0.51" tall
Weight: 0.440
Language: English



Preface



The Bubble Interpretation



The Tulipmania Legend



A Political and Economic Background



The Traditional Image of Tulipmania



Where Does the Tulipmania Legend Come From?



Establishment Attitudes toward Futures Markets and Short Selling: The Source of the Pamphlets



The Bubonic Plague



The Broken Tulip



The Bulb Market, 1634-1637



Some Characterization of the Data



Post-Collapse Tulip Prices



Bulb Prices in Later Centuries



Was This Episode a "Tulipmania"?



The Macro Bubbles



A Preliminary View: The Mississippi and South Sea Bubbles



John Law and the Fundamentals of the Mississippi and South Sea Bubbles



John Law's Finance Operations



A Rehash of Mississippi Market Fundamentals



Law's Shadow: The South Sea Bubble



South Sea Finance Operations



Fundamentals of the South Sea Company



Conclusion



The Tulipmania in the Popular and Economics Literature



The Seventeenth-Century Tulip Price Data


Notes


References


Index