Friday, May 25, 2007
This Friday's Culture Pick is Famous First Bubbles: The Fundamentals of Early Mania by Peter M. Garber, an economist at Brown University. This week we have seen reports that we are in the midst of a private equity/takeover bubble, hedge fund bubble, Chinese economic bubble and/or credit bubble. Given this, I thought it would be a nice time to review and learn about market bubbles long past such as Dutch tulipmania, the Mississippi Bubble and the South Sea Bubble. Garber does this and more debunking many myths about all three events in his excellent, short tour of early mania. Enjoy your weekend!