Authors:
Large number of clear graphs provide ease in reading and understanding
Provides summary analyses and quotations by many of world's best minds that have dealt with financial bubbles in the past
Pulls together in one book essentially all of the major financial bubbles in the past few hundred
Includes supplementary material: sn.pub/extras
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Table of contents (2 chapters)
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Front Matter
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Back Matter
About this book
This book deals at some length with the question: Since there are many more poor than rich, why don’t the poor just tax the rich heavily and reduce the inequality? In the 19th century and the first half of the 20th century, the topic of inequality was discussed widely. Ending or reducing inequality was a prime motivating factor in the emergence of communism and socialism. The book discusses why later in the 20th century, inequality has faded out as an issue. Extensive tables and graphs of data are presented showing the extent of inequality in America, as well as globally. It is shown that a combination of low taxes on capital gains contributed to a series of real estate and stock bubbles that provided great wealth to the top tiers, while real income for average workers stagnated. Improved commercial efficiency due to computers, electronics, the Internet and fast transport allowed production and distribution with fewer workers, just as the advent of electrification, mechanization, production lines, vehicles and trains in the 1920s and 1930s produced the same stagnating effect.
Authors and Affiliations
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South Pasadena, USA
Donald Rapp
About the author
Donald Rapp was educated as a scientist, receiving his Ph. D. in 1960. He worked as a research scientist and became a professor at the University of Texas. Later, he spent 30 years as a senior technologist at Caltech’s Jet Propulsion Laboratory. He published books on a wide variety of topics including quantum mechanics, statistical mechanics, solar energy, climate change, ice ages and missions to Mars. After retiring around 2002, he developed an interest in financial bubbles and carried out extensive readings in this field including Kindleberger, Galbraith and many others. In 2006, he predicted the collapse of the housing bubble and wrote a book about financial bubbles with the housing bubbles as a center piece. By the time he was able to find a publisher (Springer) the housing bubble had already popped and he had to rewrite the book in past tense, rather than as a prediction. The first edition of this book was published in 2009. Since then, quite a number of new relevant publications have cast light on many aspects of financial bubbles. The second edition updates the first edition with new data and includes many new references and theories.
Bibliographic Information
Book Title: Bubbles, Booms, and Busts
Book Subtitle: The Rise and Fall of Financial Assets
Authors: Donald Rapp
DOI: https://doi.org/10.1007/978-1-4939-1092-2
Publisher: Copernicus New York, NY
eBook Packages: Business and Economics, Economics and Finance (R0)
Copyright Information: Springer Science+Business Media New York 2015
Softcover ISBN: 978-1-4939-1091-5Published: 15 November 2014
eBook ISBN: 978-1-4939-1092-2Published: 14 November 2014
Edition Number: 2
Number of Pages: XXVIII, 351
Number of Illustrations: 70 b/w illustrations
Topics: Finance, general, Popular Science, general, Macroeconomics/Monetary Economics//Financial Economics