Bubbles and Crisis are endogenous - the are caused by "mistakes, misperceptions asymmetrical information and business ethics", bad behavior, misconduct and their externalities and unintended consequences - in addition to bad policy decisions and perverse incentives and special interests - This is simply part of the system We Call The Real World - The real World includes animal spirits, is complex and Modular...and the band plays on........
In Healthy sustainable systems the good roots out the bad and the band plays on......In sick systems the bad gains the upper hand and puts the entire systems at risk and the music stops....either temporarily or terminally...
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