CIBS Conference: DIDIER SORNETTE Swiss Federal Institute of Technology Zurich (Switzerland)

DIDIER SORNETTE Swiss Federal Institute of Technology Zurich (Switzerland)

In the late 1970s to beginning 1980s, an epoch changing transition occurred, unnoticed by most. We will present a massive amount of evidence of this transition in all sectors of public and private life. This transition corresponds to a change from a productivity-fueled growth that was seen in the 1950s and 1960s to what I will refer to as the regime of the “illusion of the perpetual money machine”. The result has been a succession of bubbles and crashes, 

including the...