How we’ve become accustomed to bubbles bursting the economy, instead of fighting them.
Summary: The financial sector has doubled in size as a %GDP since 1970, far exceeding its previous peak in 1929. The effects have been predictably broad and bad. One late stage symptom is the increased frequency of bubbles, perhaps even becoming our only driver of growth. To understand how this happens we should consult sociologists, …
How we’ve become accustomed to bubbles bursting the economy, instead of fighting them. Read More »