One of the great pleasures in life for economists is watching bubbles burst. First the speculative air is pumped in just beyond the point of reason. There is always a trader willing to say a tulip bulb will soon be worth a million guilders; an investment bank ready to predict $200 oil prices by the end of the year. There is always a looming war or a potential harvest failure to add spurious justification. But the end is inevitably the same. The bubble bursts.
對於經濟學家而言，生命中的一種巨大喜悅就是目睹泡沫破裂。首先，投機的空氣被灌入，使人失去理智。總有交易員津津樂道一支鬱金香就快漲到100萬荷蘭盾；總有投行樂於預測年底油價將升至200美元。爲了增加虛假的合理性，總有一場戰爭即將爆發，或者收成可能欠佳。但不可避免的是，結果是一樣的：泡沫會破裂。
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