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Monetary policy causes booms and busts.

As 'Austrian' business cycle theory has pointed out, any bank credit inflation sets up conditions for boom-and-bust; there is no need for prices actually to rise.

All markets have boom and bust cycles, and I think venture capital market has even more exaggerated boom and bust cycles.

It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.

Not every business cycle has a financial crisis. Frequently they do.

Business cycles lengthened greatly during the 20th century, as central banks learned to manage national economies by raising and lowering interest rates.

Concentrating wealth in the hands of the few and deregulating financial institutions and practices lead to speculative bubbles that eventually burst - and that brings the whole country down.

The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.

We've suffered a 'Ponzification' of the economy in recent years, as bubbles have built up and then burst, and each time we act as though it's the first time.

The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the world and spurred innovations in the design, implementation, and communication of monetary policy.