Famous First Bubbles is written as a historical explanation about the three most infamous “bubbles” in finance. These bubbles include the Dutch Tulipmania (1634-1637), the Mississippi Bubble (1719-1720), and the South Sea Bubble (1720).
Peter Garber penned this short informational book that explores the ins and outs of these “bubbles” and the terms that make them up. Suddenly, everything becomes easier to understand in Famous First Bubbles.
“The Dutch tulipmania, the Mississippi Bubble, the South Sea Bubble – these are always invoked with every out-break of great financial instability. So implanted are they in our literature, that they are now used more as synonyms for financial instability than as references to particular events themselves. Along with words such as herding and the newly popular irrational exuberance they now dominate the policymaking, academic rhetoric and market commentary on the crisis years of 1997, 1998 and 1999.”
Peter Garber explains most of these terms in exquisite detail. He explains how they are used, when and what they really mean.
“This book presents the fundamental history of the three famous bubbles. But it is necessary first to come to grips with the meaning of the class of words spawned by these events to understand how these events from so long ago serve the modern regulatory rhetoric.”
Garber has created a glossary of these words to provide the reader with the utmost clarity. Written for all investors, Famous First Bubbles is meant to be a sidekick of knowledge and information for any question you may have regarding finance and financial history.