Want to see the real economic picture? Take your boom goggles off

I was in Australia recently. I was primarily speaking at the competitive cities conference. However, I also did some masterclasses, and caught up with the Centre’s Australian resilience research. At the conference, I was privileged to share a platform with Ed Glaeser, professor of economics at Harvard and author of The Triumph of the City. At one point he mentioned the problem of the ‘boondoggles’ – I did not know the term, but I now know it means a pointless scheme which wastes time and money. However, in my jet lag, I thought he said ‘boom goggles’, which I took to mean those who always see the imminent arrival of a new economic boom