You were excellent in defending a difficult point.
What they don't understand is that "bubbles" almost never happen around nothing. They happen when there is a real, underlying economic event (IT boom, increased demand for housing due to higher wealth), that get's exaggerated.
The basic tools of supply and demand help immensely to understand and predict everyday events in our world. These days, many of those events are related to the Redistribution Recession of 2008-9. But I also look at other issues related to fiscal policy, labor economics, and industrial organization.
1 comment:
You were excellent in defending a difficult point.
What they don't understand is that "bubbles" almost never happen around nothing. They happen when there is a real, underlying economic event (IT boom, increased demand for housing due to higher wealth), that get's exaggerated.
Post a Comment