
Waiting to Deflate
Two recent books try to explain the seemingly irrational behavior behind speculative bubbles, from the tulip craze of the 1600s to Bitcoin today.
The Delusions of Crowds: Why People Go Mad in Groups
by William J. Bernstein
Boom and Bust: A Global History of Financial Bubbles
by William Quinn and John D. Turner
August 19, 2021 issue