Providing a historical appraisal of bubble investments, and blending theory with field observations, this insightful work will benefit academics, researchers and professionals observing the nexus of relationships between speculation, states and markets. The book presents an analysis of the development and decline of investment bubbles and helps develop the models that inform the risk assessment of bubble behaviour. By identifying particular trends and consequences, the book presents insight into the operation of speculative activity and its social, economic and political repercussions.