Mises Daily
Author:
Douglas French
Online Publish Date:
“At over 225,000 tons and capable of accommodating nearly 6,300 passengers, serviced by 2,165 crewmembers, the Oasis is the size of five Titanics.” Just what is the ultimate symbol of excess that signals the peak in a market? The point when hubris takes over. When, as Christopher Wood writes about boom-time Japan in The Bubble Economy , “a