This first edition of this book was a broad study, drawing on a wide range of published research and historical evidence, of the enormous stock market boom that started around 1982 and picked up incredible speed after 1995. Although it took as its specific starting point this ongoing boom, it placed it in the context of stock market booms generally, and it also made concrete suggestions regarding policy changes that should be initiated in response to this and other such booms. The book argued that the boom represents a ...
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This first edition of this book was a broad study, drawing on a wide range of published research and historical evidence, of the enormous stock market boom that started around 1982 and picked up incredible speed after 1995. Although it took as its specific starting point this ongoing boom, it placed it in the context of stock market booms generally, and it also made concrete suggestions regarding policy changes that should be initiated in response to this and other such booms. The book argued that the boom represents a speculative bubble, not grounded in sensible economic fundamentals. Part one of the book considered structural factors behind the boom. A list of twelve precipitating factors that appear to be its ultimate causes was given. Amplification mechanisms, naturally-occurring Ponzi processes, that enlarge the effects of these precipitating factors, were described. Part Two discussed cultural factors, the effects of the news media, and of 'new era' economic thinking. Part three discussed psychological factors, psychological anchors for the market and herd behavior. Part four discussed attempts to rationalize exuberance: efficient markets theory and theories that investors are learning. Part five presented policy options and actions that should be taken. The second edition, 2005, added an analysis of the real estate bubble as similar to the stock market bubble that preceded it, and warned that 'Significant further rises in these markets could lead, eventually, to even more significant declines. The bad outcome could be that eventual declines would result in a substantial increase in the rate of personal bankruptcies, which could lead to a secondary string of bankruptcies of financial institutions as well. Another long-run consequence could be a decline in consumer and business confidence, and another, possibly worldwide, recession'. Thus, the second edition of this book was among the first to warn of the global financial crisis that began with the subprime mortgage debacle in 2007.
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Add this copy of Irrational Exuberance (2nd Edn) to cart. $15.27, good condition, Sold by Anybook rated 5.0 out of 5 stars, ships from Lincoln, UNITED KINGDOM, published 2005 by Princeton University Press.
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This is an ex-library book and may have the usual library/used-book markings inside. This book has hardback covers. Clean from markings. In good all round condition. Dust jacket in fair condition. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 700grams, ISBN: 9780691123356.
Add this copy of Irrational Exuberance (2nd Edn) to cart. $15.27, fair condition, Sold by Anybook rated 5.0 out of 5 stars, ships from Lincoln, UNITED KINGDOM, published 2005 by Princeton University Press.
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Seller's Description:
This is an ex-library book and may have the usual library/used-book markings inside. This book has hardback covers. Clean from markings. In fair condition, suitable as a study copy. Dust jacket in fair condition. Please note the Image in this listing is a stock photo and may not match the covers of the actual item, 700grams, ISBN: 9780691123356.
Add this copy of Irrational Exuberance: Second Edition to cart. $5.02, very good condition, Sold by Greener Books rated 4.0 out of 5 stars, ships from London, UNITED KINGDOM, published 2005 by Princeton University Press.
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Very good. Includes Notes and/or Highlights **SHIPPED FROM UK** We believe you will be completely satisfied with our quick and reliable service. All orders are dispatched as swiftly as possible! Buy with confidence! Greener Books.
Add this copy of Irrational Exuberance: Second Edition to cart. $8.92, good condition, Sold by Orion Tech rated 5.0 out of 5 stars, ships from Arlington, TX, UNITED STATES, published 2005 by Princeton University Press.
Add this copy of Irrational Exuberance to cart. $9.34, very good condition, Sold by Open Books Ltd rated 5.0 out of 5 stars, ships from Chicago, IL, UNITED STATES, published 2005 by Princeton University Press.
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Very good. Open Books is a nonprofit social venture that provides literacy experiences for thousands of readers each year through inspiring programs and creative capitalization of books.
Add this copy of Irrational Exuberance to cart. $10.35, very good condition, Sold by ThriftBooks-Atlanta rated 5.0 out of 5 stars, ships from Austell, GA, UNITED STATES, published 2005 by Princeton University Press.
Add this copy of Irrational Exuberance to cart. $10.35, very good condition, Sold by ThriftBooks-Reno rated 5.0 out of 5 stars, ships from Reno, NV, UNITED STATES, published 2005 by Princeton University Press.
Add this copy of Irrational Exuberance to cart. $10.35, very good condition, Sold by ThriftBooks-Dallas rated 5.0 out of 5 stars, ships from Dallas, TX, UNITED STATES, published 2005 by Princeton University Press.
Add this copy of Irrational Exuberance to cart. $10.35, very good condition, Sold by ThriftBooks-Baltimore rated 5.0 out of 5 stars, ships from Halethorpe, MD, UNITED STATES, published 2005 by Princeton University Press.
Add this copy of Irrational Exuberance to cart. $10.35, good condition, Sold by ThriftBooks-Atlanta rated 5.0 out of 5 stars, ships from Austell, GA, UNITED STATES, published 2005 by Princeton University Press.
Probably, the best book on a "new economy" topic. Highly recommended for stock market fans. In some respect better than "Random walk down Wall Street" with the same pro-american bias.
