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by Vikram Mansharamani
Boombustology, 2nd Edition
Cover
Foreword
PREFACE: Is There A Bubble In Boom-Bust Books?
Acknowledgments
INTRODUCTION: The Study of Financial Extremes
Secrets vs. Mysteries
Different Problems Necessitate Different Approaches
Uncovering a Mystery
Notes
PART I: Five Lenses
CHAPTER 1: Microeconomic Perspectives
“Random Walks” and Accurate Prices: The Efficient Market Hypothesis
Unstable and Inefficient: The Theory of Reflexivity
Consolidating Two Factors of Detection
Notes
CHAPTER 2: Macroeconomic Perspectives
The Magnifying Power of Leverage
Collateral Rates and Debt Dynamics
Hyman Minsky's Financial Instability Hypothesis
Debt Deflation and Asset Prices
Quantitative Easing
The Austrian Business Cycle Theory
Integrating the Macro Lenses
Notes
CHAPTER 3: The Psychology Lens
The Study of Irrationality Is Born
Heuristics Gone Wild: How Rules of Thumb Lead Us Astray
Our Flawed Brains: Other Cognitive Issues
The Certainty of Uncertainty
Notes
CHAPTER 4: Political Foundations
Can Anyone Own Anything?
Venezuelan and Soviet Nationalization: Communism at Work
Prices: To Guide or Be Guided?
Political Distortions of Property and Price
Tariffs and Trade Wars
Notes
CHAPTER 5: Biological Frameworks
Revealing the Maturity of an Unsustainable Boom
How Micro Simplicity Drives Macro Complexity
Emergent Behavior in Human Swarms
The Blind Leading the Blind
Notes
PART II: Historical Case Studies
CHAPTER 6: Tulipomania
The Uniqueness of Tulips
Fertile Soil for Bubble Formation
The Boombustology of Tulipomania
The Multilens Look
Notes
CHAPTER 7: The Great Depression
Castles in the Sand
From Booming Twenties to Busted Thirties
The Boombustology of the Great Depression
The Multilens Look
Notes
CHAPTER 8: The Japanese Boom and Bust
Japan(ese) as Different
An Overview of the Bubble Economy
The Boombustology of the Japanese Boom and Bust
The Multilens Look
Notes
CHAPTER 9: The Asian Financial Crisis
Boom Times in East Asia
Thailand Catches the Flu
The Boombustology of the Asian Financial Crisis
The Multilens Look
Notes
CHAPTER 10: The U.S. Housing Boom and Bust
“Safe as Houses”
The Music Stops
The Boombustology of the U.S. Housing Boom and Bust
The Multilens Look
Notes
CHAPTER 11: China's Credit-Fueled Investment Boom
Tendencies toward Equilibrium
Leverage, Cheap Money, and Potential Deflation
Conspicuous Consumption and Overconfidence
Rights, Moral Hazard, and Political Distortion
Consensus, Silent Leadership, and Epidemics
The Unsustainable Chinese Story
The Boombustology of China's Credit-Fueled Investment Boom and Bust
The Multilens Look
Notes
PART III: Looking Ahead
CHAPTER 12: Spotting Bubbles Before They Burst
Reflexivity and Self-Fulfilling Dynamics
Leverage, Financial Innovation, and Cheap Money
Overconfidence
Policy-Driven Distortions
Epidemics and Emergence
Conclusions
Notes
CHAPTER 13: Boombustology in Action
Distinguishing Potential and Reality
Capital Markets Considerations
Population, Debt, and Investment
India's Versailles
Culture, Vocation, and Underdevelopment
Automation: Why It's Too Late for India
“Make in India”: The Wrong Playbook for Development
India’s Elusive Middle Class: Disappointment Ahead?
Notes
CONCLUSION: Hedgehogs, Foxes, and the Dangers of Making Predictions
Blinded by Focus
Notes
ADDENDUMA: Passive Investing Bubble?
Feedback Loops and Reflexivity
Distortion of the Market
Oversimplification as Overconfidence
Investment and Interest Rates
Herd Mentality and Silent Leadership
Too Much of a Good Thing
Notes
About the Author
Index
End User License Agreement
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