Boom: Bubbles and the End of Stagnation

Every bubble has its excesses—the Lamborghini-laden parties of the 2018 run-up, 2021’s $69 million auction for non-fungible tokens—but each leaves behind infrastructure the next round of companies can build upon.

These spillover effects are not mere coincidences. People learn by doing, but what they learn is not necessarily what they intended to learn at the outset.

Tom Holland, in his book Dominion: How the Christian Revolution Remade the World, have pointed out just how much modern norms owe to Christianity, even if they’re not explicitly Christian.

In 1895 it issued a memo to oil producers announcing that henceforth it would ignore the market price entirely and transact directly with them at a “take it or leave it” price. 264 Over time, oil became a

An alternative approach is to get involved when a bubble seems to be taking off. Here, it’s worth noting that a bubble can continue to grow long after the first point at which people deem it a bubble.

A taxonomy of bubbles: Speculative versus filter bubbles

The trouble is that low rates indiscriminately encourage long-term projects, while the biggest episodes of wealth creation come from building on a single theme.

it’s worth noting that both Vox and Fox News have used branding that is explicitly centrist but implicitly partisan.

The fiber business crashed and burned, but inexpensive fiber was key to the growth of YouTube, Netflix, and the rest of the streaming industry. The

Mimetic desire, he explains in his 1972 book Violence and the Sacred, is deeply antagonistic in nature and operates as the engine of social rivalry and conflict.