Daniele Besomi wrote
 > I wonder: is a stock market bubble (the result of)
 > spontaneous order? ... This surely has to do with being unable to
 > foresee the consequences of collective action taken by a number of
 > individuals acting independently of each other; but is it a kind of order?


Perhaps, and Austrians have considered such possibilities, not just 
Post Keynesians. Hayek discussed how private bankers can cause a boom 
bust cycle in his 1933 book Monetary Theory of the Trade Cycle. Such 
things are defects in broader type of order. Even Keynes recognized 
that Say's Law could hold as a special case, and also that there are 
some mechanisms for self correction in the market system, albeit slow 
ones. So the scenario you describe below involves bad unitended 
consequnces of purposeful action. Who ever said that market 
mechanisms are perfect?


Doug Mackenzie