Tag Archives: John Kenneth Gailbraith

fabulous fifties: epidemic of fright

…As the 1950′s began, millions of Americans were gripped by a fear of being wiped out by a Russian atomic bomb. This fear of instant annihilation caused an edgy populace to behave in all sorts of curious, irrational, and even … Continue reading

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bank heist: meltdown on the Mississippi

It is really a case of the greater fool hypothesis. That is, no matter how high the price of something gets whipped up in speculative frenzy, there are always others who are willing to pay for it. The Mississippi Bubble … Continue reading

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