The best title for any book ever written may be "Extraordinary Popular Delusions and the Madness of Crowds." Charles Mackay's 1841 classic describes the growth and sudden collapse of some of history's most ruinous investment bubbles. The recent credit and real estate bubble would fit neatly into Mackay's narrative. If he were writing today, he would no doubt note a new government bubble that our tax dollars are rapidly inflating.
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Friday, April 17, 2009
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3 comments:
I would be interested in reprinting the post, "Government Bubble" at Thoughts on Freedom, so that some of our guys can chew it over.
There was a post there last October on bubbles, and I posted one on herd instinct and crowds which was a review of the book by Ron Kitching.
By all means, please do. Just cite where it came from.
Regards,
Jack McHugh
Mackinac Center
Thanks Jack; I have put it up with an introduction. The Url is here.
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