Part 15 (1/1)

Chapter 1: The White Swan.

14 on the eve of the Great Depression: The single best account of the crash remains John Kenneth Galbraith, The Great Crash, 1929 (Boston: Houghton Mifflin, 1954).

15 ”At this juncture . . .”: Ben S. Bernanke, ”Economic Outlook,” testimony before the Joint Economic Committee, U.S. Congress, March 28, 2007; online at , July 26, 2007, online at /apps/news?pid=20601087&sid=aBvlvvm.ISfo&refer=home.

16 ”Looking forward . . .”: Henry M. Paulson, Jr., remarks to the Was.h.i.+ngton Post 200 Lunch, Was.h.i.+ngton, D.C., May 16, 2008, online at , April 19, 2007, online at /apps/news?pid=20601039&sid=a.mcWxg9aJ_E; Alan Greenspan and James Kennedy, ”Sources and Uses of Equity Extracted from Homes,” Working Paper no. 2007-20, Finance and Economics Discussion Series, Federal Reserve Board, online at /conor_clarke/2009/06/an_interview_with_paul_samuelson_part_two.php.

60 Scottish journalist: Charles Mackay, Memoirs of Extraordinary Popular Delusions and the Madness of Crowds (London: National Ill.u.s.trated Library, 1852). This expanded edition replaced the original work published in 1841.

Chapter 3: Plate Tectonics.

62 In the 1840s Great Britain: C. N. Ward-Perkins, ”The Commercial Crisis of 1847,” Oxford Economic Papers 2 (1950): 75-94; H. M. Boot, The Commercial Crisis of 1847, Occasional Papers in Economic and Social History, no. 11 (Hull, U.K.: Hull University Press, 1984).

63 The same argument could be made: The single best argument for the positive effects of bubbles is Daniel Gross, Pop! Why Bubbles Are Great for the Economy (New York: Harper Business, 2007).