My guest today is Vernon Smith, the first Nobel Prize winner to appear on this podcast. Smith is an American economist and professor of business economics and law at Chapman University. He is formerly a professor of economics at the University of Arizona, a professor of economics and law at George Mason University, and a board member of the Mercatus Center.
The topic is economics.
In this episode of Trend Following Radio we discuss:
- Bubbles
- Some of Smith's early experiments
- How "we're all born traders"
- Early "ah ha" moments
- Early science and engineering beginnings
- Upsetting the conventional economics "apple cart"
- The difference between "hamburgers and haircuts" and the other 25% of goods
- Smith's experience bringing Chicago traders into lab experiments
- How we see the dotcom bubble, spring of 2003, and the real estate bubble today
- Differences between housing bubbles and stock market bubbles
- Understanding why bubbles happen
- Liberty
- Views on Adam Smith
- Smith's ideological journey from socialist to his libertarian leanings today
Jump in!
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I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.
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