This volume explores the changes in speculative trading in the United States to provide an understanding of the present economic crisis. Readers will find a unified mathematical theory of speculation and new chapters that discuss neoliberalism

Besides analyzing stock markets, the book considers a wide range of speculative markets for various items such as real estate, commodities , postage-stamps, antiquarian books. In particular, it highlights the following regularities:(i) During a speculative episode, the price of expensive items...