Bubble definition

Xxxx Xxxxx Xxxxxx xxxxxxxx at xxxxxxxxxxx.xxx
Sat Jan 6 12:26:04 MST 2001


where is Henry's essay on the list? I need this bubble definition..

bye

Xxxx


Charles Brown wrote:

> >From Henry Liu's essay on "Too big to Fail":
>
> "A bubble is formed when there is aggregate overstating of financial
> value.  Its existence saps real growth because profit can then be
> earned more easily from speculation than from increased productivity.
> That was the virus that seriously wounded the Japanese economy and
> kept it depressed for over a decade.  It is now killing the US
> economy."
>
> ((((((((((
>
> CB: Henry, thanks for this definition of "bubble". I have heard the term so much,
>but never had a clear picture of it like this. Of course, the very metaphor of the
>bubble implies that it is fragile to bursting easily. So, I don't know why the
>bourgeois economists would chose that image except that they themselves are implying
>it is a sort of illusion that must burst. I guess a bubble could burst gently.

--

Xxxx Xxxxx Xxxxxx
PhD Student
Department of Political Science
SUNY at Albany
Nelson A. Rockefeller College
135 Western Ave.; Milne 102
Albany, NY 12222



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