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How is it wasted money? The exact thing you're speaking of is the good being bought with that money. It is worth X amount of money to stay in a residence for a
by merpnderp 10y ago
How is it wasted money? The exact thing you're speaking of is the good being bought with that money. It is worth X amount of money to stay in a residence for a month. That is a good which is being sold to the highest bidder. And people buying it are freely trading their money for that good. If we were as a society to take those goods and just give them away, that'd work about as well as toilet paper nationalization in Venezuela.
- branchless 10y agoI agree rent is not "wasted", however a large chunk of the cost of providing the service is the rent of fiat money from private banks to pay for the land. We should try to suppress the % of economic rent.