The Birth of “Irrational Exuberance”

Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France’s minister of finance.

Original article: The Birth of “Irrational Exuberance”


What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

 


Originally Posted at https://mises.org/


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