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6min chapter
Rational Minds Part 1: A Nation Of Gamblers - Ed Glaeser
The Joe Walker Podcast
The Jolly Swagman Podcast Part 1
Ed Glaser is Professor of Economics at Harvard University. He has thought deeply about the question of rationality in housing bubbles. The irrationality account of bubbles enables pundits, financial historians and behavioral economists to sagely tutt-tutt from the vantage point of hindsight while signalling their own rationality. But is it true? Is there a chance that the fabled peroxisms of irrational exuberance in their time looked little different to an average day on the board of trade? As this series evolves you're going to learn which parts of the irrationality story to hold onto and which parts are little more than propaganda.
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