Joe Doakes from Como Park emails:<\/p>\n
Reading a book from 2004 called \u201cDark Age Ahead\u201d by Jane Jacobs, who has written about culture and cities and societal change.<\/p>\n
When it was written, everybody assumed the house price bubble would never burst.<\/p>\n
When it was written, everybody assumed that if the house price bubble did burst, the market would quickly correct itself making housing more affordable.<\/p>\n
Nobody saw the endless string of stimulus packages and interest rate cuts to bail out foreign banks hoping to keep home prices propped up for a decade.<\/p>\n
A whole string of public policy recommendations turned out to be based on bad assumptions.\u00a0 We see it now, of course.\u00a0 But at the time . . . .<\/p>\n
So: what bad assumptions are we using today as a basis for public policies which, in 15 years, will have people shaking their heads saying \u201cWhat a bunch of idiots\u201d?<\/p>\n
Joe Doakes<\/p><\/blockquote>\n
Mitchketeers? \u00a0Go to it!<\/p>\n","protected":false},"excerpt":{"rendered":"
Joe Doakes from Como Park emails: Reading a book from 2004 called \u201cDark Age Ahead\u201d by Jane Jacobs, who has written about culture and cities and societal change. When it was written, everybody assumed the house price bubble would never burst. When it was written, everybody assumed that if the house price bubble did burst, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,74],"tags":[],"class_list":["post-62950","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market","category-the-great-recession"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/62950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62950"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/62950\/revisions"}],"predecessor-version":[{"id":62954,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/62950\/revisions\/62954"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62950"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}