From the Publisher

With a new Afterword on the current state of the stock market, the ongoing debate over the "new economy," and the larger implications of "irrational exuberance."

In this controversial, hard-hitting account of today's explosive market, Robert J. Shiller, a leading expert on market volatility, evokes Alan Greenspan's infamous 1996 reference, "irrational exuberance," to explain the alternately soaring and declining stock market. Shiller's unconventional yet persuasive argument credits an unprecedented confluence of events with driving stocks to uncharted heights, and he analyzes the structural, cultural, and psychological factors behind these levels of growth not reflected in any other sector of the economy. Now more relevant than ever, this analysis is both chilling and convincing-a must-read for the individual investor, the policy maker, and the investment professional.


From the Trade Paperback edition.
Published: Random House Audio on
ISBN: 9780375417122
Abridged
Listen on Scribd mobile: iPhone, iPad and Android.
Availability for Irrational Exuberance
With a 30 day free trial you can listen to one free audiobook per month

    Related Articles

    Fortune
    4 min read

    Keeping An Eye On The Animals

    INTERVIEW BY MATT HEIMER FINANCIAL GIANT Charles Schwab oversees $2.7 trillion in assets, including more than 10 million active brokerage accounts. The breadth of that customer base gives Liz Ann Sonders, Schwab’s longtime chief investment strategist, a unique role—as both a source of advice to those legions of “retail” clients and an observer of their behavior. So it’s worth noting that Sonders sees a revival of “animal spirits” since November’s election, an optimism that’s driving small investors to put more money in stocks and accept the risks that come with them. As she notes, that trend
    Nautilus
    4 min read
    Psychology

    MRIs of Careful People Can Predict When Bubbles Will Pop

    In the 1630s, Holland was gripped by the world’s only known case of “tulip mania.” The intensely colored flowers were already a luxury item before then, but their prices leaped when tulips with flame patterned petals hit the market, and they continued rocketing to previously incomprehensible levels. The price for a single bulb soon far surpassed what a skilled worker could make in an entire year, and others commanded enough money to buy homes or land. It didn’t last, of course. The inevitable and dramatic crash in prices left people puzzling over the tulip bubble for centuries to come. An earl
    Inc.
    10 min read
    Entrepreneurship

    Thinning The Herd

    FOR A FEW MONTHS IN early 2016, Handy CEO Oisin (oh-SHEEN) Hanrahan lived in fear of Tuesday mornings. It was then, in the on-demand home-cleaning startup’s weekly leadership team meetings at its New York City headquarters, that Hanrahan had to look at slide after PowerPoint slide showing how badly the strategy he’d championed was backfiring, while doing his best to ignore the I-told-you-so looks of his co-founder. At the time, Handy was in the midst of a major change in the way it brought on new cleaners, or “pros,” as it calls them, a change that Hanrahan had advocated. He eventually wanted