Category Archives: Boom & Bust
Otmar Issing: Quite a number of studies, now libraries almost, from the BIS and also from the European Central Bank have clearly shown that there is hardly any bubble in history which was not accompanied if not proceeded by strong … Continue reading
From John Taylor’s Getting Off Track via The Everyday Economist.
“Slumps can occur because discovery takes time.” — Arnold Kling
NYU finance professor Viral Acharya points to Hayek, Smith, Arrow, & Diamond. Snippet: Governments intervene in banks and markets when crises take place to save the systemic failure costs. This leads to the lack of a private market for generating … Continue reading
ht Calculated Risk.