The housing bubble: an application of the just price. Issue 3 (3rd July 2019)
- Record Type:
- Journal Article
- Title:
- The housing bubble: an application of the just price. Issue 3 (3rd July 2019)
- Main Title:
- The housing bubble: an application of the just price
- Authors:
- Berendt, Emil B.
- Abstract:
- ABSTRACT: The bursting of the U.S. housing bubble in 2006 was one of the precipitating factors in the Great Recession. It also led to renewed attention by economists to the identification of speculative bubbles. An underappreciated set of analytical tools that could be applied to bubbles is the Solidarist understanding of the just price. Employing the thought of Heinrich Pesch, Bernard Dempsey and Oswald von Nell-Breuning, this article develops an empirical approach to the problem of the just price and bubble identification in housing. It concludes that housing prices did violate the conditions for justness. Furthermore, the just price theory can be used by policymakers and analysts to better understand the complexities of modern markets and it addresses several gaps in economists' current understanding of housing and other asset bubbles.
- Is Part Of:
- Review of social economy. Volume 77:Issue 3(2019)
- Journal:
- Review of social economy
- Issue:
- Volume 77:Issue 3(2019)
- Issue Display:
- Volume 77, Issue 3 (2019)
- Year:
- 2019
- Volume:
- 77
- Issue:
- 3
- Issue Sort Value:
- 2019-0077-0003-0000
- Page Start:
- 393
- Page End:
- 416
- Publication Date:
- 2019-07-03
- Subjects:
- bubble -- housing -- just price -- Heinrich Pesch
B5 -- Current heterodox approaches -- D5 -- General equilibrium and disequilibrium -- D63 -- Equity -- justice -- inequality -- and other normative criteria and measurement -- R31 -- Housing supply and markets
Economics -- Periodicals
Economics -- Moral and ethical aspects -- Periodicals
Social justice -- Periodicals
330.5 - Journal URLs:
- http://www.tandf.co.uk/journals/titles/00346764.asp ↗
http://www.tandfonline.com/ ↗ - DOI:
- 10.1080/00346764.2019.1596295 ↗
- Languages:
- English
- ISSNs:
- 0034-6764
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 7796.910000
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 11243.xml