Useful Bubbles
Useful Bubbles
This chapter talks about “bubbles”, which in economic discourse implies an image of a mania or process in which a price or prices are continuously bid upward in a frenzied spiral. One example ofan economic bubble was the Japan case, wherein real estate at the end of the 1980s caused a severe debt crisis in the Japanese banking system and economic stagnation. However, even with negative implications and bad press, “bubbles” are considered useful. The chapter concludes with an attempt to prove the advantages of “bubbles”, focusing on why bubbles happen and what their building blocks are.
Keywords: bubbles, mania, frenzied spiral, economic bubbles, Japanese real estate, economic stagnation, Japanese banking system, Japan
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .
