Boombustology (ePub)

Foreword. Preface: Is There a Bubble in Boom-Bust Books? Acknowledgments. Introduction The Study of Financial Extremes: One-Armed Analysts, Secrets, Mysteries. Secrets versus Mysteries. Different Problems Necessitate Different Approaches. Financial Booms and Busts as Mysteries. Part I Five Lenses. Chapter 1 Microeconomic Perspectives: To Equilibrium or Not? "Random Walks" and Accurate Prices: The Efficient Market Hypothesis. Constant Instability and Inefficiency: The Theory of Reflexivity. Reconciling Efficiency and Reflexivity. Chapter 2 Macroeconomic Perspectives: The Impact of Debt and Deflation on Asset Markets and Prices. The Magnifying Power of Leverage. Collateral Rates and Debt Dynamics. Hyman Minsky's Financial Instability Hypothesis. Debt Deflation and Asset Prices. The Austrian Business Cycle Theory. Integrating the Macro Lenses. Chapter 3 The Psychology Lens: Homo economicus Meets Homo sapiens. The Study of Irrationality Is Born. Heuristics Gone Wild: How Rules of Thumb Lead Us Astray. Our Flawed Brains: Other Cognitive Issues. The Certainty of Uncertainty. Chapter 4 Political Foundations: Evaluating Property Rights, Price Mechanisms, and Political Distortions. Can Anyone Own Anything? Prices: To Guide or Be Guided? Political Distortions of Property and Price. Chapter 5 Biological Frameworks: Epidemiology and Emergence. Revealing the Maturity of an Unsustainable Boom. How Micro Simplicity Drives Macro Complexity. Emergent Behavior in Human Swarms. The Blind Leading the Blind. Part II Historical Case Studies. Chapter 6 Tulipomania: A Bubble in Seventeenth-Century Holland. The Uniqueness of Tulips. Fertile Soil for Bubble Formation. The Boombustology of Tulipomania. The Multilens Look. Chapter 7 The Great Depression: From Roaring Twenties to Yawning Thirties. Castles in the Sand. From Booming Twenties to Busted Thirties. The Boombustology of the Great Depression. The Multilens Look. Chapter 8 The Japanese Boom and Bust: A Credit-Fueled Bubble Economy.

VIKRAM MANSHARAMANI is an experienced global equity investor and a Lecturer at Yale University, where he teaches a seminar called "Financial Booms and Busts." Mansharamani has a PhD and MS from the MIT Sloan School of Management, an MS in political science from the MIT Security Studies Program, and a BA from Yale University. He lives in Brookline, Massachusetts.

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