The Intergenerational Transmission of Trauma and the Irish Property Bubble

Paul Ryan, Richard Taffler and Clare Branigan

ERES from European Real Estate Society (ERES)

Abstract: We demonstrate how society-wide intergenerational transmission of trauma, ignored in economic models drove the Irish property bubble. Ireland’s ‘obsession’ with property owning is a psychic attempt, through repetition compulsion, to transcend the traumatic past and ‘inhabit’ an idealized pre-colonial fantasy land. We also explain why the property bubble is almost inevitably being re-enacted so soon with no apparent learning.

Keywords: Asset pricing bubbles; Celtic Tiger; historic trauma; large group psychodynamics; social unconscious (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022-01-01
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:2022_92

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