Saturday, December 13, 2008

Housing Boom

I'm not a fan of Cato, but I found this article of value in outlining the causes of the real-estate boom/bust cycle.


Blogger Paul Hsieh said...

In my research on health policy, I've found that Cato is pretty good in its criticisms of various bad statist policies and legislation.

And like the better conservatives, they can make pretty good economic arguments in favor of deregulation, but they fail to take the analysis to the next level and ground their economics in the more fundamental moral and philosophical principles necessary to properly defend freedom and individual rights.

Hence, I've found them useful for concrete facts and figures (e.g., history of state-run medicine in, say France and Switzerland), and will often point interested readers towards some of their works for this level of discussion. But I don't recommend them as the only source of ideas and analysis, precisely because of their lack of the right philosophy.

2:31 PM  
Blogger Amit Ghate said...

Hi Paul,

I agree on their economic analyses, but I think it's worse than just failing to go to the next level, they are ardently against morality (and implicitly very altruistic). As such I always hesitate to link to their site, but will do soon the odd occasion when the topic is confined to economics.

3:55 PM  

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