Asset Bubble

When an "asset class" has a period of significant value increase driven not by rational supply/demand but by some UnSustainable lever. Which leads to a significant value drop when things change. (cf Crisis)

Within economics, Reflexivity refers to the self-reinforcing effect of market sentiment, whereby rising prices attract buyers whose actions drive prices higher still until the process becomes unsustainable. This is an instance of a positive feedback loop. The same process can operate in reverse leading to a catastrophic collapse in prices. https://en.wikipedia.org/wiki/Reflexivity_(social_theory)

• cf George Soros

Sociogenic

Extraordinary Popular Delusions and the Madness Of Crowds is a history of popular folly by Scottish journalist Charles Mackay, first published in 1841. The book chronicles its subjects in three parts: "National Delusions", "Peculiar Follies", and "Philosophical Delusions". Despite its journalistic and rather sensational style, the book has gathered a body of academic support as a work of considerable importance in the history of social psychology and psychopathology.

vs Wisdom Of Crowds

See Real Estate, DotCom, Commodity

Some say that some bubbles generate net public gain - see Technological Revolutions And Financial Capital

• building out the RailRoad system, etc.
• DotCom gave us lots of Dark Fiber