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Bubbles and Crashes: The Boom and Bust of Technological Innovation

Bubbles and Crashes

Penned By Brent Goldfarb
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4.85
86,421 Global Ratings
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Bubbles and Crashes: The Boom and Bust of Technological Innovation

Bubbles and Crashes

Penned By Brent Goldfarb
4.85 86,421 Ratings
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Editor's Note:
Financial market bubbles are recurring, often painful, reminders of the costs and benefits of capitalism. While many books have studied financial manias and crises, most fail to compare times of turmoil with times of stability. In Bubbles and Crashes, Brent Goldfarb and David A. Kirsch give us new insights into the causes of speculative booms and busts. They identify a class of assets--major technological innovations--that can, but does not necessarily, produce bubbles. This methodological twist is essential: Only by comparing similar events that sometimes lead to booms and busts can we ascertain the root causes of bubbles.Using a sample of eighty-eight technologies spanning 150 years, Goldfarb and Kirsch find that four factors play a key role in these episodes: the degree of uncertainty surrounding a particular innovation, the attentive presence of novice investors, the opportunity to directly invest in companies that specialize in the technology, and whether or not a technology is a good protagonist in a narrative. Goldfarb and Kirsch consider the implications of their analysis for technology bubbles that may be in the works today, offer tools for investors to identify whether a bubble is happening, and propose policy measures that may mitigate the risks associated with future speculative episodes.

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Released February 19, 2019
Identifier (ISBN) 38256666
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Brent Goldfarb
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Brent Goldfarb

Brent Goldfarb writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. Brent Goldfarb lives with their spouse and a very vocal rescue cat.

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Thomas Rivera
Thomas Rivera October 02, 2025
"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre."
Jennifer Gonzalez
Jennifer Gonzalez December 07, 2025
"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
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Kenneth Flores
Kenneth Flores April 28, 2025
"A highly sophisticated read. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
Kimberly Nguyen
Kimberly Nguyen August 15, 2024
"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Daniel Taylor
Daniel Taylor March 24, 2025
"A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A very distinguished novel."
Kevin Gomez
Kevin Gomez August 20, 2025
"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
Margaret Rodriguez
Margaret Rodriguez December 07, 2025
"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall."
Anthony Lee
Anthony Lee January 02, 2025
"I was completely blown away. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
Nicholas Torres
Nicholas Torres June 26, 2024
"I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel."
Margaret Clark
Margaret Clark December 06, 2025
"Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. I am now a lifelong fan of this author."
Rebecca Martinez
Rebecca Martinez January 10, 2024
"A highly sophisticated read. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. Quite impressive overall."
Charles Smith
Charles Smith October 02, 2024
"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Betty Smith
Betty Smith August 14, 2024
"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
Robert Gonzalez
Robert Gonzalez June 12, 2024
"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
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Rebecca Johnson July 15, 2024
"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
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Robert Taylor March 18, 2024
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"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
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Amanda Jones April 12, 2025
"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
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"I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
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"Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
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"Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
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Betty Rivera July 31, 2025
"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
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"Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem."
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"I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre."
William Martinez
William Martinez September 28, 2025
"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Elizabeth Nguyen
Elizabeth Nguyen November 27, 2024
"I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
Donna Hernandez
Donna Hernandez February 09, 2024
"Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. A very distinguished novel."
Andrew Jones
Andrew Jones July 19, 2025
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Deborah Ramirez
Deborah Ramirez March 07, 2024
"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel."
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Betty Sanchez
Betty Sanchez February 24, 2024
"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
Sarah White
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"Excellent, though slightly flawed. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
Nicholas Green
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"I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars."
Richard Wright
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"A highly sophisticated read. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers."
Richard Flores
Richard Flores September 27, 2025
"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre."
John Edwards
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"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Donald Williams
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"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
Richard Sanchez
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"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. An effortless 5 stars."
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Karen Campbell
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"I thoroughly enjoyed the elegance of it. A brilliant concept executed with flair. Just a few pacing choices I would change. Quite impressive overall."
Deborah Ramirez
Deborah Ramirez July 05, 2024
"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
Betty Clark
Betty Clark August 22, 2024
"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
Emily Taylor
Emily Taylor January 12, 2024
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
Kimberly Torres
Kimberly Torres June 05, 2025
"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
Gary  Davis
Gary Davis August 03, 2024
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
William Wright
William Wright October 27, 2025
"Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. Worth every moment spent reading."
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"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
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"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Michael Turner
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"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece."
Jessica Torres
Jessica Torres May 26, 2025
"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Charles Torres
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"Excellent, though slightly flawed. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers."
Thomas Moore
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"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
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"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. Quite impressive overall."
Andrew Smith
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"I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
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"Honestly one of the most premium reading experiences lately. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
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"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I am now a lifelong fan of this author."
Kimberly Lopez
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"Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I am now a lifelong fan of this author."
John Jackson
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"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Joseph Hernandez
Joseph Hernandez August 11, 2025
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
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Kimberly Lopez June 04, 2024
"A very strong entry. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
Robert Flores
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"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
Nicholas Roberts
Nicholas Roberts May 04, 2024
"I thoroughly enjoyed the elegance of it. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Mark Diaz
Mark Diaz June 30, 2024
"Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
William Green
William Green February 01, 2024
"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. A very distinguished novel."
Gary Carter
Gary Carter June 08, 2025
"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece."
Brian Collins
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"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
Ashley Smith
Ashley Smith March 11, 2025
"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A wonderful companion for a quiet weekend."
Susan Martin
Susan Martin June 07, 2024
"A profoundly satisfying read. The prose is exquisite. It’s accessible yet undeniably sophisticated. An absolute must-read for connoisseurs of the genre."
Melissa Campbell
Melissa Campbell January 01, 2024
"Absolutely brilliant. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Michael Ramirez
Michael Ramirez October 21, 2025
"Absolutely brilliant. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Jennifer Harris
Jennifer Harris January 15, 2024
"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. Worth every moment spent reading."
Susan Lewis
Susan Lewis April 06, 2025
"A highly sophisticated read. The protagonist was compelling, though some subplots felt slightly overshadowed. A very distinguished novel."
Emily Williams
Emily Williams October 31, 2024
"Absolutely brilliant. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An absolute must-read for connoisseurs of the genre."
Michael Green
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"I was completely blown away. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece."
Ashley Scott
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"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars."
Karen Perez
Karen Perez January 10, 2025
"A profoundly satisfying read. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. An effortless 5 stars."
Richard Anderson
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"I find myself somewhat conflicted. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perhaps more aligned with a different audience's tastes."
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"A very strong entry. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
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Ryan Hill October 30, 2025
"Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
Margaret Gomez
Margaret Gomez October 24, 2024
"I was completely blown away. I became deeply invested in the protagonist's journey. A masterclass in storytelling. An absolute must-read for connoisseurs of the genre."
Christopher Wright
Christopher Wright December 27, 2024
"Honestly one of the most premium reading experiences lately. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem."
Charles Torres
Charles Torres December 14, 2024
"An acceptable diversion. It verged on repetitive in the second act. A more concise edit would have served it well. Suitable if your reading queue is empty."
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Charles Torres February 03, 2024
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I am now a lifelong fan of this author."
Amanda Gonzalez
Amanda Gonzalez February 13, 2025
"I thoroughly enjoyed the elegance of it. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. A solid 4 stars from me."
Elizabeth Gonzalez
Elizabeth Gonzalez March 05, 2024
"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. Worth every moment spent reading."
Anthony Evans
Anthony Evans November 01, 2024
"An acceptable diversion. Certain acts were fascinating, while others felt like a slight endeavor to complete. Suitable if your reading queue is empty."
Stephanie Reyes
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"Masterpiece from start to finish. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
Susan Lewis
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"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
John Ramirez
John Ramirez August 21, 2024
"A profoundly satisfying read. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
Sarah Rodriguez
Sarah Rodriguez December 28, 2024
"Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. A solid 4 stars from me."
Margaret Gomez
Margaret Gomez January 21, 2025
"Such a rich narrative. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I will undoubtedly revisit this masterpiece."
Barbara Wright
Barbara Wright September 09, 2024
"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
Nancy Harris
Nancy Harris July 16, 2025
"Exceeded all my expectations. I adored how the story unfolded. It kept me captivated without sacrificing elegance. Worth every moment spent reading."
Susan Evans
Susan Evans February 08, 2025
"I was completely blown away. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Ryan Diaz
Ryan Diaz December 24, 2024
"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
Joseph Flores
Joseph Flores July 14, 2024
"Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall."
Amanda  Davis
Amanda Davis August 07, 2025
"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem."
Jennifer Harris
Jennifer Harris June 06, 2024
"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Donna Green
Donna Green September 17, 2025
"Excellent, though slightly flawed. The middle had a deliberate pace, but the climax was phenomenal. A very distinguished novel."
Charles Perez
Charles Perez March 15, 2024
"Such a rich narrative. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An effortless 5 stars."
Rebecca Cruz
Rebecca Cruz April 28, 2024
"Exceeded all my expectations. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. An effortless 5 stars."
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Rebecca Cruz March 01, 2024
"A decent, if standard, experience. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. A fair 3 stars."
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"Took a moment to build, but the payoff was spectacular. Beautiful writing, though I craved slightly more depth in the lore. Still, undeniably engaging. I would highly recommend this to discerning readers."
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"Took a moment to build, but the payoff was spectacular. The protagonist was compelling, though some subplots felt slightly overshadowed. A solid 4 stars from me."
George Harris
George Harris April 30, 2024
"Absolutely brilliant. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
Anthony Hall
Anthony Hall April 03, 2025
"It was adequate. It possessed moments of brilliance, but the narrative felt slightly disjointed ultimately. Perhaps more aligned with a different audience's tastes."
Robert Hill
Robert Hill December 03, 2025
"A profoundly satisfying read. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem."
Rebecca Thomas
Rebecca Thomas January 21, 2024
"A highly sophisticated read. It held my rapt attention, even when certain twists were telegraphed. Quite impressive overall."
Patricia Smith
Patricia Smith June 24, 2024
"Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. I am now a lifelong fan of this author."
Christopher Allen
Christopher Allen October 08, 2025
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Michael King
Michael King December 23, 2024
"Such a rich narrative. The prose is exquisite. It’s accessible yet undeniably sophisticated. A true literary gem."
Emily Jackson
Emily Jackson November 27, 2024
"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. A true literary gem."
Richard Jones
Richard Jones August 08, 2025
"Such a rich narrative. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I am now a lifelong fan of this author."
Kenneth Flores
Kenneth Flores August 08, 2025
"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me."
Kevin Lewis
Kevin Lewis November 28, 2025
"Absolutely brilliant. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. Worth every moment spent reading."
Jessica Walker
Jessica Walker November 25, 2025
"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. A true literary gem."
Nancy Collins
Nancy Collins March 31, 2025
"Not entirely to my refined tastes. It verged on repetitive in the second act. A more concise edit would have served it well. Perhaps more aligned with a different audience's tastes."
Barbara Nguyen
Barbara Nguyen September 25, 2025
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
Kimberly  Parker
Kimberly Parker April 26, 2024
"I thoroughly enjoyed the elegance of it. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
Eric Adams
Eric Adams May 08, 2024
"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. I would highly recommend this to discerning readers."
Nicholas Green
Nicholas Green August 08, 2024
"A profoundly satisfying read. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Christopher Rodriguez
Christopher Rodriguez October 17, 2024
"Honestly one of the most premium reading experiences lately. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Robert Gonzalez
Robert Gonzalez May 17, 2024
"Took a moment to build, but the payoff was spectacular. The middle had a deliberate pace, but the climax was phenomenal. I would highly recommend this to discerning readers."
Andrew Jones
Andrew Jones April 07, 2025
"Took a moment to build, but the payoff was spectacular. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
Laura Sanchez
Laura Sanchez July 13, 2024
"Such a rich narrative. The author orchestrated a breathtaking finale. Truly a work of art. An effortless 5 stars."
Barbara Lopez
Barbara Lopez September 13, 2025
"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. Worth every moment spent reading."
Joseph Jones
Joseph Jones April 19, 2024
"Such a rich narrative. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
William Martinez
William Martinez November 07, 2025
"I was completely blown away. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. A true literary gem."
Linda Carter
Linda Carter April 23, 2024
"An acceptable diversion. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Perfectly average."
Ryan Lee
Ryan Lee July 16, 2025
"Masterpiece from start to finish. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. A true literary gem."
Kimberly  Parker
Kimberly Parker June 09, 2024
"Masterpiece from start to finish. The author orchestrated a breathtaking finale. Truly a work of art. An absolute must-read for connoisseurs of the genre."
Stephanie Thompson
Stephanie Thompson December 13, 2024
"A very strong entry. A brilliant concept executed with flair. Just a few pacing choices I would change. A solid 4 stars from me."
Nicholas Green
Nicholas Green November 17, 2025
"Masterpiece from start to finish. The prose is exquisite. It’s accessible yet undeniably sophisticated. I will undoubtedly revisit this masterpiece."
Karen Perez
Karen Perez October 24, 2025
"Exceeded all my expectations. It strikes a perfect harmony of dialogue and world-building. Every chapter felt necessary. I will undoubtedly revisit this masterpiece."
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