2 ms·
By far the greatest part of Trump's wealth comes from the "rent-seeking" that I mentioned. The sources are all political: 1) zoning density restrictions, 2) ov
by davidf18 9y ago
By far the greatest part of Trump's wealth comes from the "rent-seeking" that I mentioned. The sources are all political: 1) zoning density restrictions, 2) overregulation (e.g. in a city with mass transit and Uber, parking spaces, and lots of red tape to increase time of construction) and 3) overuse of historic landmark status. This rent-seeking is all implemented by cities run by Democrats.
Thus, it is Democrats who are most responsible for making Trump far, far wealthier than he would be without their assistance. This while adding to inequality and making rents for even small apartments very expensive.
Incidentally, in Japan in 2001 or so they passed a federal law which overruled local zoning density restrictions. The result is that in 2014 140,000 housing units were built in Tokyo compared with less than 90,000 for all of California and 20,000 for NYC.