“A major boom in real stock prices in the US after Black Tuesday brought them halfway back to 1929 levels by 1930. This was followed by a second crash, another boom from 1932 to 1937, and a third crash. Speculative bubbles do not end like a short story, novel, or play. There is no final denouement that brings all the strands of a narrative into an impressive final conclusion. In the real world, we never know when the story is over.”
Quote by Robert J. Shiller
Author
Robert J. Shiller
Robert J. Shiller is a renowned economist known for his work in behavioral finance, asset pricing, and macroeconomic fluctuations. Born on March 29, 1946, he is a Nobel laureate in Economics. more
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