Mike Bird is the Wall Street editor for The Economist magazine and is the author of The Land Trap: A New History of the World's Oldest Asset. Mike returns to the show to discuss the conclusion of Abenomics, the origins of land as an asset, the surge in housing prices during the COVID-19 Pandemic, the unsuspecting story of Wolf Ladejinsky, how housing impacted Japan's lost decade, the modern history of land in China, and much more.
Check out the transcript for this week's episode, now with links.
Recorded on November 4th, 2025
Subscribe to David's Substack: Macroeconomic Policy Nexus
Follow David Beckworth on X: @DavidBeckworth
Follow Mike on X: @Birdyword
Follow the show on X: @Macro_Musings
Check out our Macro Musings merch!
Subscribe to David's new BTS YouTube Channel
Timestamps
00:00:00 - Intro
00:01:27 - Abenomics
00:04:32 - Motivations for The Land Trap
00:7:58 - Land as a Different Kind of Asset
00:14:55 - COVID-19 Housing Prices
00:20:42 - Land as an Enduringly Important Asset
00:24:34 - Wolf Ladejinsky
00:37:14 - Japan from 1980s Onward
00:47:28 - Land in China
00:56:36 - Henry George
01:00:42 - Outro
