A Short History of Financial Euphoria

In barely 100 pages, Galbraith distils decades of economic observation into a devastatingly lucid analysis of financial bubbles. He identifies the invariable ingredients of every speculative euphoria: leverage, the belief in the present situation's exceptionalism, "genius" figures who justify the boom, and the inevitable collapse. Written in 1990, it reads as if written about dot-com, 2008 housing, or crypto.