Pop!: Why Bubbles Are Great For The Economy

Pop!: Why Bubbles Are Great For The Economy

by Daniel Gross

NOOK Book(eBook)

View All Available Formats & Editions

Available on Compatible NOOK Devices and the free NOOK Apps.
WANT A NOOK?  Explore Now


Bubbles—from hot stocks in the 1920s to hot stocks in the 1990s—are much-lamented features of contemporary economic life. Time and again, American investors, seduced by the lures of quick money, new technologies, and excessive optimism, have shown a tendency to get carried away. Time and again, they have appeared foolish when the bubble burst. The history of finance is filled with tragic tales of shattered dreams, bankruptcies, and bitter recriminations.

But what if the I-told-you-so lectures about bubbles tell only half the story? What if bubbles accomplish something that can only be seen in retrospect? What if the frenzy of irrational economic enthusiasm lays the groundwork for sober-minded opportunities, growth, and innovation? Could it be that bubbles wind up being a competitive advantage for the bubble-prone U.S. economy?

In this entertaining and fast-paced book—you'll laugh as much as you cry—Daniel Gross convincingly argues that every bubble has a golden lining. From the 19th-century mania for the telegraph to the current craze in alternative energy, from railroads to real estate, Gross takes us on a whirlwind tour of reckless investors and pie-in-the-sky promoters, detailing the mania they created—but also the lasting good they left behind.

In one of the great ironies of history, Gross shows how the bubbles once generally seen as disastrous have actually helped build the commercial infrastructures that have jump-started American growth. If there is a secret to the perennial resilience and exuberance of the American economy, Gross may just have found it in our peculiar capacity to blow financial bubbles—and successfully clean up the mess.

Product Details

ISBN-13: 9780061850103
Publisher: HarperCollins Publishers
Publication date: 10/13/2009
Format: NOOK Book
Pages: 240
File size: 321 KB

About the Author

Daniel Gross, the "Moneybox" columnist for Slate, is the author of several books and is a contributor to the "Economic View" column in the Sunday New York Times. His writing also appears frequently in magazines such as New York and Wired. Gross was educated at Cornell University and holds an A.M. in American history from Harvard University. He lives with his family in Connecticut.

Customer Reviews

Most Helpful Customer Reviews

See All Customer Reviews

Pop!: Why Bubbles are Great for the Economy 4.6 out of 5 based on 0 ratings. 5 reviews.
xtien on LibraryThing More than 1 year ago
The idea is good: bubbles in the economy cost a lot of investors their money but afterwards, they leave us all a nice and paid for infrastructure. True for telegraph: after most telegraph companies went bust, new business was created by AP press, Dunn and Bradstreet and others. Same for railroads. Same for internet: worldcom and global XS went bust but without the bandwidth their bubble left us, we wouldn't have Youtube or Second life.In the details, the book is not so good. Obviously, Daniel Gross has read a lot, but he doesn't know many of the details.
Anonymous More than 1 year ago
Adopted by Fernstar. All black. Hazel eyes.
Anonymous More than 1 year ago
VenomSwipe <br> Tom <br> 24 moons <br> Looks: Black pelt with white tail rings, paws, ears, and locket. Deep green eyes with hits of brown. <br> Mate: Bluewhisp [desesed] <br> Kits: IvyKit[alive] TurtleKit[Deseaed] OtterKit[Deseased] <br> Crush: Ferntail <p> IvyKit <br> She-cat <br> 2 moons <br> Looks: Pure white she-cat with light grey spots and deep grey tabb stripes. Deep green eyes with hints of white and gold. <br> Mate: Too Young <br> Kits: She is one! <br> Crush: dosent know what that fuly mean but she know when shes older she wants to be Solar's mate. <p> Rpers Siggy: &star &spade Allidon &star &spade
Anonymous More than 1 year ago
"Thank you wintertstar" she said as she steppd out of the den.
Anonymous More than 1 year ago