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No he didn't. Presently private banks issue fiat money ahead of wealth creation due to a govt granted monopoly on money issuance. If that didn't exist (small '
by branchless 11y ago
No he didn't. Presently private banks issue fiat money ahead of wealth creation due to a govt granted monopoly on money issuance.
If that didn't exist (small 'l' liberal) then in 2008 the banks would have gone to hell and many a lesson would have been learned.
Also land is a natural monopoly - you can't make more. Small 'l' liberal economists have said this time and again.
- deleted 11y ago[deleted]
- paulddraper 11y ago> land is a natural monopoly There is no shortage of land. There is a shortage of land in urban areas or areas with easy road access.
- branchless 11y agoAgree with the sentiment, but it's not simply a matter of sprawling. In practice there will always be a need to live in close proximity. The community creates value.