Are Asset Bubbles and Crashes Inevitable?

"I actually took part in some of the earliest experiments in the field of economic psychology (as it was known then) in the late 1970s when I was at the University of Arizona. I can personally confirm the results below. The results of my experiment reminds of a line from the western (I think it came out in 1957 or 1960) "The Magnificent Seven" made by Eli Wallach, a Mexican bandit about to rob a Mexican village, "if God did not want them sheared, He would not have made them sheep". From The Atlantic:"