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He talks about the unfairness of "our economic system" but he makes his income from Qatar's economic system. Qatar likes to spend their oil money on western pro
by objectivistbrit 9y ago
He talks about the unfairness of "our economic system" but he makes his income from Qatar's economic system. Qatar likes to spend their oil money on western professors to give themselves an air of legitimacy.
As for renting out property, it's never effortless or risk-free. If it was, the rate of return would drop to that of other minimum risk assets (e.g. treasury bonds).
- zanny 9y agoOur economic system is global even if our politics are not. The salaries Qatar pays are as influential in his life as any job he could have gotten stateside. The prices of oil and coffee beans are set internationally. Raising the minimum wage locally influences global capital flows away from your area, removing regulations directs global capital towards you. Zoning laws that restrict building and inflate property values will attract investors 5 time zones away on the other side of the planet.