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very similar to the Japanese crisis in the beginning of the 1990s. Furthermore, we address the issue why the world was …
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In 1720, Britain and France convulsed in the South Sea and Mississippi bubbles. Manias and crashes have stalked financial markets ever since, demonstrating the profound difficulty of preventing or mitigating them. Conventional narratives depict the crises as the product of hubris, folly, and...
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