Video: The Great Recession and Housing Bubbles
Saturday, April 13th, 2013Here, Nobel Laureate in Economics Vernon Smith introduces his colleague Steve Gjerstad on why the Fed’s early-in-the-millennium policy to induce a housing bubble “went awry”:
Smith and Gjerstad are working on a book on the Great Recession, and Gjerstad provides, here, a data-heavy discussion, and uses that data to show why Keynesian policy doesn’t work. Gjerstad makes an especially interesting comparisons between Japan and Finland. Well worth sitting through the whole lecture.
Means and ends are central. If your means are corroded, your ends will be corroded. And if you’re fighting to preserve liberty and you use means that eviscerate our liberties, the end will be corroded, too.
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