12∞ · Question 11.3.8
Why do speculative bubbles recur?
Because greed and fear are contagious. Prices rise, people buy because others are buying, stories appear explaining why this time is different, and credit pours in.
From the book 12∞ Twelve to Infinity by D.R. Davenport. The full answer is free to read with an iBelieve account.
Where it sits in the book
- Part
- 11: How Humanity Got Here
- Gate
- 11.3: The Economics of Fear
- In print
- Page 365
- ← 11.3.7 · What happened when the common lands were fenced?
- 11.3.9 → · What happens to a society when the wealthy avoid taxes?
- All of Part 11
Topics
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