Library of Mistakes
EP 23: Boom and Bust (with William Quinn & John D. Turner)
Feb 5, 2024
Authors William Quinn & John D. Turner join the podcast to discuss financial bubbles, including the role of technology, government policies, and market speculation. They explore historical bubbles and the emergence of bubbles in various industries like cryptocurrency and electric vehicles.
39:30
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Quick takeaways
- The bubble triangle offers a framework for understanding the factors that contribute to the development and collapse of financial bubbles.
- Marketability of assets plays a significant role in the formation and expansion of financial bubbles, but excessive marketability can also be risky.
Deep dives
The Bubble Triangle: A New Way to Understand Financial Bubbles
The podcast discusses a new concept called the bubble triangle, which offers a different perspective on financial bubbles. The bubble triangle consists of three components: fuel, oxygen, and heat. The fuel represents money and credit, the oxygen refers to the marketability of assets, and the heat signifies speculation. These components interact and contribute to the formation and growth of bubbles. Additionally, the spark that ignites a bubble can be attributed to new technology or government policy. The bubble triangle provides a framework for understanding the factors that contribute to the development of financial bubbles and their eventual collapse.
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