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Rational Minds Part 1: A Nation Of Gamblers - Ed Glaeser
The Joe Walker Podcast
How Small Errors Can Translate Into Big Changes in Price
Ed Glazer: It's often pretty easy to justify prices that are far off with only small errors. And when there's a banker who will lend on that, then it's hard to imagine how you won't get bubbles. Public policy needs to plan to make the system robust to them, rather than try and educate ourselves in ways that limit our own tendency to be foolish.
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