Delusions of Grandeur
2 Pages Posted: 14 Nov 2013 Last revised: 23 Jun 2017
Date Written: October 1, 2013
This paper puts stock market declines in their proper perspective. Paper wealth is only that. A sudden market decline does not reduce real wealth, e.g., plant and equipment, consumer durables.
Keywords: stock market declines
JEL Classification: G10
Suggested Citation: Suggested Citation