The conventional wisdom on historical asset bubbles is that these were episodes of irrational exuberance. In reality, historical asset bubbles were much more interesting. The South Sea Bubble and the Mississippi Bubble were the end result of government debt consolidation schemes.
Tulipmania was an artifact. There was no bubble. The Dutch elite passed legislation that turned futures contracts into options contracts.
https://pricetheory.substack.com/p/what-about-bubbles
rebeleconprof / Josh Hendrickson
npub18w…jr2wn
2023-03-27 15:54:24
Author Public Key
npub18wgtxzhx75qd2aq3gn35mcv5m8zx7z6xdsf6a95asltys70deekqqjr2wnPublished at
2023-03-27 15:54:24Event JSON
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"content": "The conventional wisdom on historical asset bubbles is that these were episodes of irrational exuberance. In reality, historical asset bubbles were much more interesting. The South Sea Bubble and the Mississippi Bubble were the end result of government debt consolidation schemes.\n\nTulipmania was an artifact. There was no bubble. The Dutch elite passed legislation that turned futures contracts into options contracts.\n\nhttps://pricetheory.substack.com/p/what-about-bubbles",
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