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> Robots are capital. Real estate is mostly land. Capital produces interest. Land produces rent. These are different things. Not according to neoclassical econ
by psc 10y ago
> Robots are capital. Real estate is mostly land. Capital produces interest. Land produces rent. These are different things.
Not according to neoclassical economics! Land is just another form of capital. I still don't understand why though. Some say it's political but that feels like too much of a conspiracy theory to me. There must be a good explanation but I haven't found it yet.