| Unlike more transitory fads and fashions, however, financial manias and panics have real and lasting economic consequences. |
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| Financial manias and panics have attracted economists concerned with the efficiency of asset markets. |
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| And there is some dispute about whether events like the Asian crisis really constitute market manias and panics. |
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| Throughout his manias, Berhman obsessively recorded everything he did and he relied on those notes to create this detailed memoir. |
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| Almost all manias, be they tulips, railways, Japanese real estate, have ended in busts. |
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| The significance of speculative manias is that they cause the buildup of debt and bad investments which creates slow growth. |
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| Like fashion and distinct from both fads and crazes, manias tend to develop by spreading downward through the social strata. |
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| These are technology-driven bubbles, not fad-fueled manias like tulips, or fraud like the South Sea scam. |
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| Whether it is a mania for the latest hot rock star singer, or a mania to buy a financial asset, manias have truly exerted their influence for centuries. |
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| There will be gold rushes, booms, and manias aplenty in our future. |
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