Famous First Bubbles

The Fundamentals of Early Manias

By: Peter M. Garber

Write A Review

Paperback | 24 August 2001

At a Glance

Paperback
176 Pages

Age
18+

Dimensions(cm)
0.1 x 0.1 x 0.1

Paperback

$40.75

or 4 interest-free payments of $10.19 with

Ships in 7 to 10 business days

The jargon of economics and finance contains numerous colorful terms for market-asset prices at odds with any reasonable economic explanation. Examples include "bubble," "tulipmania," "chain letter," "Ponzi scheme," "panic," "crash," "herding," and "irrational exuberance." Although such a term suggests that an event is inexplicably crowd-driven, what it really means, claims Peter Garber, is that we have grasped a near-empty explanation rather than expend the effort to understand the event.In this book Garber offers market-fundamental explanations for the three most famous bubbles: the Dutch Tulipmania (1634-1637), the Mississippi Bubble (1719-1720), and the closely connected South Sea Bubble (1720). He focuses most closely on the Tulipmania because it is the event that most modern observers view as clearly crazy. Comparing the pattern of price declines for initially rare eighteenth-century bulbs to that of seventeenth-century bulbs, he concludes that the extremely high prices for rare bulbs and their rapid decline reflects normal pricing behavior. In the cases of the Mississippi and South Sea Bubbles, he describes the asset markets and financial manipulations involved in these episodes and casts them as market fundamentals.

Industry Reviews

"[Peter Garber] lays out his argument with an engaging whiff of irony. It is an argument especially worth noting as high-tech portfolios continue to slide." - Steffan Heuer, Industry Standard

Shipping

	Standard Shipping	Express Shipping
Metro postcodes:	$9.99	$14.95
Regional postcodes:	$9.99	$14.95
Rural postcodes:	$9.99	$14.95

Orders over $79.00 qualify for free shipping.

How to return your order

At Booktopia, we offer hassle-free returns in accordance with our returns policy. If you wish to return an item, please get in touch with Booktopia Customer Care.

Additional postage charges may be applicable.

Defective items

If there is a problem with any of the items received for your order then the Booktopia Customer Care team is ready to assist you.

For more info please visit our Help Centre.

You Can Find This Book In

Non-Fiction Economics Economic History Macroeconomics Monetary Economics International Economics International Finance Microeconomics Accounting & Finance Accounting Finance Investment & Securities

Preface	p. ix
The Bubble Interpretation	p. 1
The Tulipmania Legend	p. 15
A Political and Economic Background	p. 19
The Traditional Image of Tulipmania	p. 25
Where Does the Tulipmania Legend Come From?	p. 29
Establishment Attitudes toward Futures Markets and Short Selling: The Source of the Pamphlets	p. 33
The Bubonic Plague	p. 37
The Broken Tulip	p. 39
The Bulb Market, 1634-1637	p. 43
Some Characterization of the Data	p. 49
Post-Collapse Tulip Prices	p. 61
Bulb Prices in Later Centuries	p. 65
Was This Episode a "Tulipmania"?	p. 75
The Macro Bubbles	p. 85
A Preliminary View: The Mississippi and South Sea Bubbles	p. 87
John Law and the Fundamentals of the Mississippi and South Sea Bubbles	p. 91
John Law's Finance Operations	p. 95
A Rehash of Mississippi Market Fundamentals	p. 105
Law's Shadow: The South Sea Bubble	p. 109
South Sea Finance Operations	p. 115
Fundamentals of the South Sea Company	p. 121
Conclusion	p. 123
The Tulipmania in the Popular and Economics Literature	p. 127
The Seventeenth-Century Tulip Price Data	p. 133
Notes	p. 145
References	p. 149
Index	p. 155
Table of Contents provided by Syndetics. All Rights Reserved.

Famous First Bubbles

The Fundamentals of Early Manias

At a Glance

Paperback

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

More in Finance

The Little Book of Common Sense Investing

The Only Way to Guarantee Your Fair Share of Stock Market Returns

She's on the Money

Take Charge of Your Financial Future

Corporate Finance, Global Edition

6th Edition

How To Not Work Forever

Start Investing and Build a Life You Love

Profit First

Transform Your Business from a Cash-Eating Monster to a Money-Making Machine

A History of Central Banking and the Enslavement of Mankind

A History of Central Banking and the Enslavement of Mankind

Investing with She's on the Money

Build your future wealth: from the creator of the #1 finance podcast

Get Started Investing

It's easier than you think to invest in shares

The Intelligent Investor Third Edition

The Art of Spending Money

Simple Choices for a Richer Life

Technofeudalism

What Killed Capitalism

The Trading Game

A Confession

The Quick-Start Guide to Investing

Learn How to Invest Simpler, Smarter and Sooner, WINNER of ABBA BOOK OF THE YEAR and PERSONAL FINANCE & INVESTING

How to Own the World Before You're 30

A Plain English Guide to Investing Early for Your Future Wealth and Happiness

J.K. Lasser's Small Business Taxes 2026

Your Complete Guide to a Better Bottom Line

One Up On Wall Street

How To Use What You Already Know To Make Money In The Market

Property Secrets of the Rich

For readers of Rich Dad Poor Dad and The Intelligent Investor

Top Stocks 2026

A Sharebuyer's Guide to Leading Australian Companies

Invest Your Way

How to Grow Your Wealth on Your Terms

J.K. Lasser's 1001 Deductions and Tax Breaks 2026

Your Complete Guide to Everything Deductible

The Simple Path to Wealth (Revised & Expanded Edition)

Fixed

Why Personal Finance Is Broken and How to Make It Work for Everyone

A Random Walk Down Wall Street

The Best Investment Guide That Money Can Buy

This product is categorised by