In a historic and evolutionary perspective the authors look at several economics bubbles of the past centuries and examine the wisdom that we have derived out of those. The three parts of the book Part I Bubbles Part II Faster than a speeding bullet Part III The Quest for wisdom Chapter headings Chapter 1 – The positive feedback loop Chapter 2 – Why do we have bubbles? Chapter 3 – Madness of crowds Chapter 4 – We all want to be together Chapter 5 – Trade, the bringer of peace Chapter 6 – Trust Chapter 7 – The road to cooperation Chapter 8 – Why failure can be good and why destruction means creation Chapter 9 – Why boom and bust is good Chapter 10 – When individuals fail, why median means more than the mean, and why we are far too mean with the median entrepreneur Chapter 11 – Aggregated risk – monopoly and why big can be beautiful Chapter 12 – Risk equals innovation, but not always the innovation you are expecting, and why equilibrium rarely exists Chapter 13 – The possibility of production, and the impossibility of ignoring Moore’s Law Chapter 14 – There’s a comma in the idea of equilibrium Chapter 15 – When the top dog meets a new top dog Chapter 16 – When credit got crunched Chapter 17 – The world sees more souls: the developed world sees fewer working souls Chapter 18 – When it’s rational to be irrational Chapter 19 – Wise men and bubbles |  Chapter 1 – The positive feedback loop Crisis and opportunity From tigers, to a cure to our ills The peacock Crisis in our times The great housing market error Property snakes and ladders This time it is different Why does it matter? And back to the opportunity The threat Chapter 2 – Why do we have bubbles? Crowds: when we behave badly, and when we behave well Confirmation bias Recency bias Availability, or proximity bias Too soon and not enough bias Hindsight bias The tyranny of the metaphor I would like to read the Prologue |