Irrational exuberance

Description

"In this update of his 2000 bestseller, Irrational Exuberance, Robert Shiller returns to the topic that gained him international fame: market volatility. Shiller breaks new ground in this second edition by laying out in even clearer and starker terms the market excess that continue to destabilize the economy and disrupt our lives." "Building on the original edition, Shiller draws out the psychological origins of volatility in financial markets, this time folding real estate into his analysis. He broadens the evidence that investing in capital markets of all kinds in the modern free market is inherently unstable - subject to the profoundly human influences captured in Alan Greenspan's now-famous phrase, "irrational exuberance."" "The ultimate solution to this troubling condition, he maintains, would involve better-designed public institutions such as a revamped social security system, new forms of insurance to protect people's incomes and homes, and a broader array of investment options."--BOOK JACKET

First Sentence

When Alan Greenspan, chairman of the Federal Reserve Board in Washington, used the term irrational exuberance to describe the behavior of stock market investors in an otherwise staid speech on December 5, 1996, the world fixated on those words.

Subjects

Other Editions

• Irrational exuberancePrinceton University Press2005-01-01
• Irrational exuberancePrinceton University Press2000-01-01
• Irrational exuberanceBroadway Books2001-01-01
• Irrational exuberanceCurrency/Doubleday2005-01-01
• Irrational ExuberanceHardcoverPrinceton University Press2005-02-22
• Irrational ExuberancePaperbackCurrency2006-05-09