Boom and Bust: A Global History of Financial Bubbles

"It’s a very readable and systematic analysis of what drives booms and busts in financial markets. There are loads of books about financial bubbles and related issues, but what I like about this one is the way they have developed a framework for thinking about any bubble anywhere, anytime. It’s reasonably short and very well written, a really enjoyable read. So, if you want to learn something about why financial markets behave the way they do, it’s a great place to start. They do. And, not surprisingly, they promise us that there’ll be even more financial booms and busts to come in the future. The story is about the dynamics of things that come along that look like the best thing since sliced bread and the way that, in almost all business cycles, money goes chasing after those, and you get the boom and bust. It’s about the inevitable dynamics of financial markets."