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But the creation of credit costs nothing therefore rent extraction can scale up to match productivity gains in a heartbeat.
by branchless 10y ago
But the creation of credit costs nothing therefore rent extraction can scale up to match productivity gains in a heartbeat.
- Tsagadai 10y agoWhich given that land is limited (you can only go so far out before you are in another place) then the price of the building will increase. It is possible to end up in a situation where even very wealthy workers cannot afford to rent within hours of a city. Sydney, Melbourne, London and Vancouver are examples where this is starting to happen. it has not happened yet but it is certainly pricing many out at lower ends of the income scale.
- branchless 10y agoExactly. Go work on your productivity. The rentiers are waiting.