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Bubbles: Trouble or Tamable?

In: Toward a Metatheory of Economic Bubbles: Socio-Political and Cultural Perspectives

Author

Listed:
  • Nikhilesh Dholakia

    (University of Rhode Island)

  • Romeo V. Turcan

    (Aalborg University)

Abstract

In this concluding chapter, the issues are clear and straightforward: (1) Can bubble processes be detected early and stopped before they turn dangerous? (2) If bubbles form and burst, can steps be taken to control the damage and recover quickly? We argue that in bubble-prone situations, the inflation of a dangerous bubble could be avoided, or at least mitigated, by encouraging multiple, independent opinions on the realistic value of the asset; creating transparency about the motives of, and possible gains for, those who hype the asset; uncovering and shining a light on the linkages among asset inventors-creators, owners, funders, analysts, promoters, and speculators. Governments, nongovernment organizations, media, and universities can take up the responsibilities of doing these things. The pathways to regulate bubbles are clear-cut; however, the political economy of taking such actions is fraught with complexity.

Suggested Citation

  • Nikhilesh Dholakia & Romeo V. Turcan, 2014. "Bubbles: Trouble or Tamable?," Palgrave Macmillan Books, in: Toward a Metatheory of Economic Bubbles: Socio-Political and Cultural Perspectives, chapter 8, pages 86-97, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-36179-0_8
    DOI: 10.1057/9781137361790_8
    as

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