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The Ascent of Money: Blowing bubbles

submitted by rasch187

1 decade 4 years 2 months 4 weeks ago

Why do stock markets produce bubbles and busts? Professor Niall Ferguson goes back to the origins of the joint stock company in Amsterdam and Paris. He draws telling parallels between the current stock market crash and the 18th century Mississippi Bubble of Scottish financier John Law and the 2001 Enron bankruptcy. He shows why humans have a herd instinct when it comes to investment, and why no one can accurately predict when the bulls might stampede.