PART II
Historical Case Studies

Each of the five lenses presented in Part I—microeconomic, macroeconomic, psychological, political, and biological—might be used on its own to solve puzzles. But the application of the five lenses in concert is suited to addressing mysteries. Part II illustrates the power of a multi-lens approach through several short case studies. From tulips in Holland to financial crises in Asia to McMansions in America and empty malls in China, there is no part of the world that has proven exempt from financial turmoil. Part II demonstrates how a multi-lens perspective might have helped observers to identify these bubbles before they burst.

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