May 20th, 2007

Bubble Benefits

Slate’s Daniel Gross has a new book out, Pop! Why Bubbles are Great for the Economy. It’s an interesting argument: while bubbles are wasteful, oftentimes (1) there are a few enduring successes, and (2) even the failures can leave behind valuable infrastructure that then gets consolidated and reused by sounder post-bubble businesses. EBay, Amazon, and … read more