Ep25 “Bubble Trouble” with Will Goetzmann
All Else Equal: Making Better Decisions
00:00
The Uncertainty of the Tulip Mania
The story of tulip mania is fascinating one because it has to do with uncertainty and a love of the exotic and interesting forms that can emerge through that uncertainty. The real estate bubble in Tokyo in Japan is really a famous event, but certainly affected Japan's let's not talk about cause and effect. It was certainly an extraordinary rise in asset prices. One thing about us and the Great Recession was that we were pretty good about taking the medicine and shutting down institutions that should have been shut down - not so much in Japan. I think something would argue are still suffering from the dead overhang that resulted from the bursting of that bubble.
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