Blame California! Thomas Sowell on the Housing Boom and Bust

The thing I love about Thomas Sowell is that I get six new research ideas every time I listen to him talk. He’s primarily a theorist: he’s not interested in testing the libertarian stories he’s strung together to conclude “Government is bad.” I am, however. It seems to me that there would be some interesting empirical work testing his assertions about California land values here.

So unlike my armchair theorizing earlier this week, the spatial origins of the foreclosure crisis are, according to Sowell, in California.

He makes me furious, and he makes me think. And he’s an amazingly productive scholar.