Title: A scholarly treatment and fun to read at the same time
Product review: Peter Garber's short book pokes holes in the view that markets today can exhibit "irrational exuberance" simply because it is "well known" that they did so in the cases of the Dutch Tulipmania and Mississippi and South Sea Bubbles. He says a bubble can only happen where there is no fundamental economic rationale for the rise and subsequent fall in prices. He states that these early events may not have been bubbles. He provides coherent explanations for these events based on economic fundamentals, and he supports his argument by analyzing the available price data in historical, economic, and political context.
Would you say this review depicts the product in a flattering or unflattering light?
