Interesting to compare how someone like DeLong evaluates resources spent on bubble-fueled private investment versus those spent on, say, public-school salaries. When do we insist on a rigorous cost-benefit analysis? and when do we say say, it's all fine, something useful will probably come of it?

Thanks!

Where’s this from?

Any chance the event will be recorded, for those of us who can’t make it?

I'm curious about whether this arbitrage is extending the "insurability" of areas that would otherwise be uninsurable due to increased risk from climate change etc. A convoluted kind of positive externality from finance? 🤔

Thanks for the thread, Mark. Where are the slides from, if you don’t mind?