Part II. Historical Case Studies

Each of the five lenses presented in Part One—microeconomic, macroeconomic, psychological, political, and biological—might be used on its own to solve puzzles. But the application of the five lenses in concert is suited to addressing mysteries. Part Two illustrates the power of a multilens approach through five short case studies. From tulips in Holland to financial crises in Asia to McMansions in America, there is no part of the world that has proven exempt from financial turmoil. Part Two demonstrates how a multilens perspective might have helped observers to understand these bubbles before they burst.

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