Bubbling Up | ARENA
Manias and Mimesis: Applying René Girard’s Mimetic Theory to Financial Bubbles
Tobias Huberdeliverypdf.ssrn.com
The spectacle of “building" describes systems that optimize for whatever can be ritualized, narrated, and scaled. The argument isn’t that spectacle alone is negative. Quite the opposite. Byrne Hobart and Tobias Huber, in their recent book Boom, make the persuasive case that bubbles aren't merely collective irrationality; they’re crucial for innovat... See more
The frenetic build-up of bubbles and their violent collapse provides some of the purest examples of the mimetic process—they crystallize fear, hope, hype, overconfidence, or under-confidence