Arvida Byström

Greater Fool

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Greater Fool
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Countdown

Oct 2, 2021 2:00 AM

TBA

Oct 2, 2021

UTC+11

Marketplace

Description

Does money warp and obscure our relationship to objects? During the late 1990s there was an economic bubble in teddy bears called Beanie Babies. These were sold at an astronomical price point, only to completely lose their value around the millennium. If you removed the teddy’s tag on the ear it lost value on the secondary market. The greater fool theory is a vital part of an economic bubble. The theory refers to when you buy an object speculating that there will be an even greater fool that buys the object at a higher price. The risk will always be that you are the greatest fool, and in the end will sit on overpriced tulips or teddy bears you do not want and cannot get rid of without losing money. Price = €3.850, Edition: 3

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