From the land mania following the Revolutionary War to the AI craze now, speculation is in the American economy's DNA. These kinds of big bets have shaped our present and continue to fuel tomorrow's economic growth. Host Katherine Sullivan unpacks the past and future of American speculators. This episode is part of The Wall Street Journal’s USA250: The Story of the World’s Greatest Economy, a collection of articles, videos and podcasts aiming to offer a deeper understanding of how America has evolved. Further Reading: From Sports to AI, America Is Awash in Speculative Fever. Washington Is Egging It On. Capitalism and Democracy Often Clash in America. They Usually End Up Better for It. Financial Bubbles Happen Less Often Than You Think Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.