Season 4 · Episode 108
Rational Minds Part 1: A Nation Of Gamblers - Ed Glaeser
The Joe Walker Podcast · Joe Walker
December 15, 202032m 43s
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Show Notes
Ed Glaeser is the Fred and Eleanor Glimp Professor of Economics at Harvard University.
Show notes
Selected links
- Follow Ed: Website
- 'A Nation Of Gamblers: Real Estate Speculation And American History', 2013 Ely Lecture by Ed Glaeser
- One Hundred Years Of Land Values In Chicago, by Homer Hoyt
- The Land Boomers, by Michael Cannon
- '25 years of housing trends' report by Aussie Home Loans
Topics discussed
- A potted history of real estate speculation in the United States. 8:51
- How would Ed describe the Great Convulsion of the 2000s to an alien observer? 13:40
- Why is real estate well-suited to being a speculative asset? 16:04
- If speculators aren't crazy, what are they? 17:00
- Was the Great Convulsion primarily driven by credit availability? 20:44
- What would a good Bayesian have thought in response to the 2000s housing market in the US? 22:23
- Radical uncertainty and its implications for rationality in the context of housing markets. 24:06
- Are extrapolative beliefs rational? 26:22
- Are housing bubbles irrational? 29:51
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