The Psychosocial Conformism of Democracy

I do worry that there are elements of it that are somewhat stronger. We're living in a sort of more globally connected, more transparent world. It often seems more dangerous for people to express unconventional ideas because there's a record of that. People sort of maybe are censoring themselves more than they were 50 years ago. I think there is something very peculiar about the history of the bubbles that we've been experiencing in the last few decades. There was an enormous bubble in the 1720s. There was one in the 1920s. But we've had maybe four or five of roughly the same magnitude in the last 30 years.