From Bubble to Depression?: Why the Housing Crash Ruined the Financial System but the Dot-com Crash Did Not

Authors

Steven D. Gjerstad, Chapman UniversityFollow
Vernon L. Smith, Chapman UniversityFollow

Document Type

News Article

Publication Date

4-6-2009

Abstract

What sparks economic bubbles? Why didn't the dot-com bubble do damage to the financial system while the housing bubble lead to its collapse? Key characteristics of housing markets combine to provide a description of the housing bubble collapse, and how it engulfed the financial system and the wider economy.

Comments

This article was originally published in the The Wall Street Journal on April 6, 2009.

Recommended Citation

Gjerstad, S., & Smith, V.L. (2009, April 6). From bubble to depression?: Why the housing crash ruined the financial system but the dot-com crash did not. Wall Street Journal, pp. A15.

Copyright

Wall Street Journal