Their speculative frenzies ruined shareholders, customers, and the economy.

So Sarkozy shouldn t be lashing out against speculative capitalism.

Expectations become self fulfilling, oil prices rise, a speculative bubble is born.

NEW HAVEN A speculative bubble is a social epidemic whose contagion is mediated by price movements. News of price increase enriches the early investors, creating word of mouth stories about their successes, which stir envy and interest.

NEW HAVEN A speculative bubble is a social epidemic whose contagion is mediated by price movements.

True, everybody is complaining about America s speculative bubble, and they are right to do so.

This raises the question just what is a speculative bubble?

So we should think hard about what speculative capitalism means.

Investors discovery of commodities as an asset class is fueling both speculative and long term demand.

The state must also preserve continuity in the market economy when the speculative bubble that has funded its transformation bursts.

The occasion was Brazil s decision to impose a 2 tax on short term capital inflows to prevent a speculative bubble and further appreciation of its currency.

NEW HAVEN People frequently ask me, as someone who has written on market speculation, where the next big speculative bubble is likely to be.

Instead, the profitable carving up of healthy companies has freed up capital to flow to intangible assets, houses and other forms of real estate, fueling a speculative crisis.

More importantly, capital restrictions meant that when Latin America was sent into recession and depression later in the decade, as speculative capital fled most Latin American countries, Chile was largely spared.

In October of that year, the price of gold the consummate faith based speculative asset was on the way up, having just hit 1,300.

Simultaneously, the stock market valuations associated with the New Economy are unreal, in the sense that they reflect more of a speculative bubble than fundamental valuations.

National leaders must speak out, and they must match their words with concrete actions, to help signal to the public that the speculative bubble cannot be expected to continue.

But the rationale must be to get the world economy out of its current risky situation, not to propel us into yet another speculative bubble.

Governments have refused to reinstate the absolute wall of separation between commercial and investment banks, leaving taxpayers on the hook to pay deposit insurance claims when the bubble prone financial sector blows up.

We must become faster, more flexible, and more effective more modern.

Young people are increasingly recognizing the dramatic importance of modern information technology and are finding their way both to the Internet and the Neumarkt, Germany's bid to inspire American style venture capitalists.

Oil prices are now running well above 50 a barrel, partly owing to short run supply shocks, such as the Iraq conflict, Nigerian labor disputes, the conflict between Yukos Oil and the Russian government, and Florida's recent hurricanes. Oil prices may fall once these shocks dissipate, but speculative effects could keep them relatively high, weakening the world economy and depressing stock markets.

Oil prices may fall once these shocks dissipate, but speculative effects could keep them relatively high, weakening the world economy and depressing stock markets.

That should make them more humble, more vulnerable and more human.

Nowadays, instruments of mass destruction are smaller, cheaper, and more readily available.

The opportunity to build a safer, fairer, and more united world has been largely squandered.

A more democratic Iraq has become a more violent Iraq.

It makes it more organic, more natural.

High carbon growth is doomed, crippled by high prices for fossil fuels and killed off by the hostile physical environment that climate change will create. Low carbon growth will be more energy secure, cleaner, quieter, safer and more bio diverse.

Low carbon growth will be more energy secure, cleaner, quieter, safer and more bio diverse.

Similarly, large financial institutions like Deutsche Bank, as they free up the huge pots of money now tied up in industrial holdings, are thinking of little else but participating in a US style scene of venture capital, start up financing and IPOs.

No more.

There is more.

And it gets even more extreme.

All the more so.

We currently have a gap between our ambitions and our resources which must be addressed.

Clearer priorities and more sensible budgeting decisions are needed.

Borders have been made more secure and societies more resilient.

The two sisters became more and more famous.

My short term memory is getting shorter and shorter.

They would be much more likely to embrace a cheaper, smarter, and more beneficial path of innovation.

But in the end, everyone has to become a better reader more skeptical and more curious.

We know from influenza that a new epidemic can suddenly appear just as an older one is fading, if a new form of the virus appears, or if some environmental factor increases the contagion rate. Similarly, a new speculative bubble can appear anywhere if a new story about the economy appears, and if it has enough narrative strength to spark a new contagion of investor thinking.

Similarly, a new speculative bubble can appear anywhere if a new story about the economy appears, and if it has enough narrative strength to spark a new contagion of investor thinking.

A larger capital stock would mean thicker markets, a finer division of labor, and a more productive economy.