Toward Rational Exuberance: The Evolution of the Modern Stock Market

The True History, and Dangerous Myths, of the Modern Stock Market.

The stock market is big news now, influencing every aspect of the modern economy. Accepted wisdom has it that the market will provide retirement security for anyone willing to diligently save and invest. Yet many people can remember a time when the stock market was little more than a primitive insiders' game, viewed by most Americans with skepticism and suspicion.

In Toward Rational Exuberance, B. Mark Smith, a professional...