The Madness of Crowds
Joe Walker is joined by John D. Turner and William Quinn, authors of “Boom and Bust: A Global History of Financial Crises”, for a journey through the history of financial bubbles. Turner and Quinn explain their thinking on why financial manias occur using their theory on “the bubble triangle”. They then share with Walker their in-depth analysis of particular manias such as the British Bicycle Mania and the Melbourne land bubble of the 1880s, using these and other examples to explore why bubbles have such profound economic, social, and political consequences. Filmed on October 9, 2020.