Boom Bust: House Prices, Banking and the Depression of 2010
Jan 2010 · Shepheard-Walwyn
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Not employment or inflation as argued during the Great Depression and years of Reaganomics, the mechanism that drives the business cycle is proven to be the housing and property market in this analysis of the instability of financial markets. The consequences of how neoclassical economics ignores the importance of land are presented in a discussion of the dot-com crash. Agricultural, industrial, and commercial property and the housing market are examined to suggest that policymakers must revise their treatment of land in economic decisions to avoid the next economic crash, predicted for 2010.
Not employment or inflation as argued during the Great Depression and years of Reaganomics, the mechanism that drives the business cycle is proven to be the housing and property market in this analysis of the instability of financial markets. The consequences of how neoclassical economics ignores...
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About the author
Fred Harrison is the research director of the Land Research Trust. He is a former consultant to the Russian parliament on land and tax policies. He is a former chief reporter for the Sunday People and the author of The Corruption of Economics, Land and Taxation, and The Power in the Land.
Fred Harrison is the research director of the Land Research Trust. He is a former consultant to the Russian parliament on land and tax policies. He is a former chief reporter for the Sunday People and the author of The Corruption of Economics, Land and Taxation, and The Power in the Land.
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