Bubbles and economic fragilities

With all the talk about a bubble in investment in so-called ‘AI’*, I have taken a moment to reread the classic on the 1929 Wall Street bubble bursting, US economist John Kenneth Galbraith’s The Great Crash 1929, first published in the 1950s. Speculative market bubbles do come and go. As Galbraith notes, the reason that … Continue reading Bubbles and economic fragilities →