This article is published in "Chinese Social Sciences Journal" 144 Issue 10 One of the articles on "Public bet365 sportsbook review" in the edition.

In modern social life，Same as economic bubble，bet365 sportsbook review bubbles are everywhere，It is also inevitable。bet365 sportsbook review bubbles and economic bubbles have a special internal logical connection - bet365 sportsbook review bubbles may arise from economic bubbles，Economic bubbles may also be caused by bet365 sportsbook review bubbles。In the bet365 sportsbook review chain，Due to irrational bet365 sportsbook review，When there is information asymmetry and information distortion，This brings about an inflated bet365 sportsbook review effect、bet365 sportsbook review expectations are exaggerated、Amplification of operating or governance risks, etc.，Can be called a “bet365 sportsbook review bubble”。On the one hand，bet365 sportsbook review bubbles are divided into macro bet365 sportsbook review bubbles and micro bet365 sportsbook review bubbles。The former includes unreasonable inflation、Distortion of public expectations or uncontrolled expansion of consumer confidence - that is, bubbles of public confidence, etc.；The latter includes the Matthew Effect in micromanagement、Issues such as abnormal extension of the bet365 sportsbook review chain。On the other hand，The author tries to divide bet365 sportsbook review bubbles into natural bubbles (frictional bubbles) and exogenous bubbles。Natural bubbles are caused by the natural distortion of information，It is inevitable；Exogenous bubble is a bet365 sportsbook review bubble caused by human subjective intention or lack of human ability。

Naturally existing bet365 sportsbook review bubbles are just like the natural unemployment rate defined by economists，It’s normal and reasonable，such as friction foam，Small impact。However, abnormal exogenous bet365 sportsbook review bubbles will bring many adverse effects，For example，Bubbles as small as the micromanagement level can affect a company's performance，Bubbles as big as national macro-bet365 sportsbook review will affect public confidence - bubbles that bring about public confidence and other social problems。

　　The generation mechanism of “bet365 sportsbook review bubble”

Since human rationality is limited，The rationality of bet365 sportsbook review is also limited。In information asymmetry、Under the influence of information distortion, etc.，Or human interference、Cover up、Whitewash all kinds of information，Irrational bet365 sportsbook review will lead to a large number of bet365 sportsbook review bubbles，Under the synergy of the pyramidal hierarchical structure，These bet365 sportsbook review bubbles will gradually expand。Of course，This is not caused by the inherent shortcomings of the bureaucracy itself。In modern enterprise (or organization) governance model，That is, under the principal-agent model in which ownership and bet365 sportsbook review rights are separated，The irrationality of bet365 sportsbook review is particularly prominent，By amplifying business risks、Abnormal extension of the bet365 sportsbook review chain，Exaggerate earnings and bet365 sportsbook review results to unreasonably increase bet365 sportsbook review’s prestige and earnings；Or resource monopoly、Administrative monopoly departments bring about bet365 sportsbook review bubbles。

Therefore，Even if it is reflected in the bet365 sportsbook review or bet365 sportsbook review collective，relative to the group、Organization or public interests，It is also an irrational bet365 sportsbook review behavior that is difficult to effectively restrain the bet365 sportsbook review。Not difficult to understand，Under the impetuous social and cultural environment and utilitarian bet365 sportsbook review atmosphere，And under the control of some bet365 sportsbook review elites，bet365 sportsbook review short-term behaviors from all walks of life、There are many phenomena such as family companies fighting for control (the sudden collapse of Enron in the United States、The collapse of Wall Street is evidence)，Therefore, various abnormal bet365 sportsbook review bubbles will inevitably inflate in the bet365 sportsbook review chain。

　　Exploring the bet365 sportsbook review method of “defoaming”

First of all, information should be disclosed in real time，To reduce information distortion。

Information asymmetry、Information distortion is the most important reason for bet365 sportsbook review bubbles。The key to solving this problem is to ensure the reliability of the information source and the stability of the information transmission pipeline。Therefore，Focus on purifying information sources and rationally clearing various information transmission channels，Reducing information distortion and information transmission blockage can effectively pop the bubble in bet365 sportsbook review。Of course，This can also effectively prevent the distortion of public psychological expectations and confidence。Information transfer in bet365 sportsbook review work，It can be like communication and computer Internet information transmission，Can information check codes and information correction systems be embedded in some conventional information transmission pipelines，In order to promptly correct the information distortion problem。For example，Quickly unpack and subcontract information、Add verification code，Reassemble it after transmission；Zaru，Establish a real-name endorsement signature system for information transmission，And increase the benefits of real information and increase the cost of artificially distorting information, etc.。

Secondly, efforts should be made to promote rational humanistic bet365 sportsbook review，Curb irrational bet365 sportsbook review behavior。

Work in this area，First，To redefine rational humanistic bet365 sportsbook review，Return utilitarian bet365 sportsbook review to humanism、Humanistic bet365 sportsbook review。Second，Inspire more innovative talents to enter the industry，And reshape the social responsibility of enterprises - Re-engineering enterprises for social responsibility，Reshuffle the profit sharing rules，Avoid the continuation of the habit of being responsible only to the elite，Change from being responsible to the elite to being responsible to the common people and even the entire society。Third，Focus on bet365 sportsbook review ethics casting，Re-establishing administrative officials、The beliefs of business managers and other managers，Effectively correct the bet365 sportsbook review value ranking of managers，And reasonable、Effectively play the role of grassroots party organizations，That is, reasonable politicization，Thus promoting rational humanistic bet365 sportsbook review。For example，Capital is profit-seeking and utilitarian，And those who control capital also have limited rationality，Restrict people’s greed and other unethical behaviors through sophisticated and rational humanistic bet365 sportsbook review，Achieve de-utilitarian and de-foaming bet365 sportsbook review。Fourth，Elite governance has its unique advantages，But due to the limited rationality of people and bet365 sportsbook review，Thus elite governance will also show obvious limitations。To eliminate its negative impact，We can learn from Pareto’s elite circulation theory: by clearing the talent circulation channel，Enable elites to circulate in an orderly and reasonable manner，Give full play to the role of grassroots elites；And combine elite governance with grassroots elites、Common employees or other grassroots groups fully participate in governance，Act within the same framework，To continuously achieve effective Pareto improvements。

AGAIN，We must continue to promote reasonable distribution according to work、Distribution method according to contribution factors，Appropriately increase the value of manual labor and other grassroots personnel’s contribution factors (raising the minimum wage standard is an effective and common practice)，And more supplemented by income compensation and transfer payments，Channels to increase the income and self-interest demands of low-income groups，Expand the middle level，And curb profit-taking behavior at the high-income level。Overall，Promote reasonable distribution according to work、Distributing income according to contribution factors will greatly reduce the occurrence of bet365 sportsbook review bubbles。

Finally，The improvement of the principal-agent governance model should be further promoted。

In modern organizational bet365 sportsbook review，The principal-agent model is very common，There are also more bet365 sportsbook review bubbles generated。Some economists suggest tying managers’ benefits to the organization’s interests and risks，Restrict their unreasonable profit-seeking behavior from the design of the system and encourage them to work hard for the benefit of the organization。On the one hand，We think this idea is worth learning；On the other hand，Due to various reasons such as unreasonable system design，In reality, it is difficult for many organizations to do this to effectively restrain the unreasonable behavior of managers or bet365 sportsbook review。Otherwise there wouldn’t be so many phenomena such as Gome Electric Appliances competing for control。Of course，There is still a lot of room for improvement in organizational governance under the principal-agent relationship，There are many ways, methods or system designs worth exploring。such as，Improve the way risk and return are bundled、Responsibility identification and assuming methods，Effectively eliminate bubbles in bet365 sportsbook review through improvements in these areas。

bet365 sportsbook review of “defoaming” and public confidence “reserve”

Can public bet365 sportsbook review be stored?？Where is the logic of the problem？If you can reserve，How to reserve？

First，"Rationality" based on the times - that is, the times will not make mistakes，We believe that public bet365 sportsbook review can be "reserved"。The logic is，By developing some fiscal and financial tools and other policy tools，While maintaining a neutral level of public bet365 sportsbook review and trust，"Reserve" something that can be released in the future，Resources that can effectively intervene and modify public psychological expectations。When needed，The "reserved" "public bet365 sportsbook review" (various reserve resources) can be released through various policy tools，To intervene and modify public bet365 sportsbook review expectations。Technically speaking，This should be possible。For example，Dependence on energy and other resources can often lead to greater economic ups and downs and fluctuations in public consumer bet365 sportsbook review，Safe reserves through some resources、Futures market, etc.，Can effectively smooth these fluctuations。

Secondly，To effectively reduce public concerns about the future，Enhancing public spending power and bet365 sportsbook review in the future，Enhance the public’s immunity to various risks and their ability to withstand economic fluctuations，So that it can effectively boost the economy，Specific public “bet365 sportsbook review” should be carefully and reasonably “reserved”。Like a reservoir，Before a crisis moment of need，Inject this powerful "bet365 sportsbook review" into the "bet365 sportsbook review-depleted" society at the right time。Let’s call it water storage-irrigation method。Then，How to reserve public bet365 sportsbook review？The author thinks，The key is the design of reserve tools (which can be called public bet365 sportsbook review interference and correction tools) and the selection of reserve resources or reserve media。Resolved these two problems，Public bet365 sportsbook review can naturally be reserved。

　Put some points here for reference，These tools include bet365 sportsbook review bubble correction tools、bet365 sportsbook review filter tool、A combination of negative bet365 sportsbook review degradation tools and bet365 sportsbook review restoration tools。

Corrective Tools for bet365 sportsbook review Bubbles，A tool to contain abnormal expansion of bet365 sportsbook review，The essence is defoaming。The so-called bet365 sportsbook review filter tool，First，When reserving and releasing bet365 sportsbook review for a financial or economic crisis "created" by the elite，Shut off in time、Block、Divert the spread of harmful information，Especially the information transmission regarding the collapse of bet365 sportsbook review must be cut off decisively，Promptly clarify rumors and disclose real information in real time，And actively carry out various anti-counterfeiting operations (in recent years，Food safety incidents in my country，In particular, the impact of dairy product safety incidents on public consumer bet365 sportsbook review is a typical example)。Secondly，The government must also assume that it can curb foreign capital in a timely manner，Especially the plan for interference from speculative funds (the Asian financial crisis in 1997 can strongly support this)。If pessimistic expectations in public bet365 sportsbook review are called negative bet365 sportsbook review，Then，The so-called negative bet365 sportsbook review degradation tool，Similar to degrading enzymes of certain chemicals。such as，The government should prevent the public from panic selling of stocks、Plan for runs and hoarding of goods；There should be active media publicity and social mobilization plan。And what we mean by bet365 sportsbook review restoration tools，It is more of a release of resources。As resources, you can choose some hard currency or rare metals such as gold。

bet365 sportsbook review restoration tools include: National Economic Risk and Public Trust Reserve、Corporate social responsibility reserve、Relief Reserve Fund for Low-income Groups、Reasonable reserves of food and other daily necessities。Of course，The so-called tools we proposed，A considerable number of them are already adopted by many countries。

(Source: China Social Sciences Journal Author: Deng Mingwen Li Hui Unit: Department of Public Administration, School of Economics and bet365 sportsbook review, Tibet University)