5 ms·
I actually think capitalism is the problem. It's the best form we know to organize a society, but it has the serious problem when money tend to stick or gravita
by uuwp 8y ago
I actually think capitalism is the problem. It's the best form we know to organize a society, but it has the serious problem when money tend to stick or gravitate towards bigger chunks of money. I'm making well over 300k and can afford a decent house that I'd have to pay off my entire life. What if I had 30M and was too lazy to start a business? I would just buy 30-40 nice houses in my area and would rent them. 10 years later I would have 60M in assets plus whatever rent I've been paid. Where did those 30M come from? Did I do anything useful to the society? No. I have done nothing useful. It's just the dynamics of capitalism where another 30M sticked to my original 30M by the mere fact of their existence. If I was seriously rich, I could lobby zoning laws to benefit from monopoly and drive my wealth even higher, while giving nothing back to the society.
- Aeolun 8y agoIf you make 300k you need to either be fairly old, or buy a ridiculously expensive place to pay it off for the rest of your life.
- AnimalMuppet 8y agoOr be buying in a ridiculously expensive place - NYC or the Bay Area.
- Aeolun 8y agoGiven what I can buy myself, that would mean buying a 3M house. Even in the bay or NYC that’s a fairly expensive place.
- refurb 8y agoIf you spent 30M and bought 30-40 houses to rent out, you would be contributing to society by risking your capital to provide housing for renters. There is no certainty that you’d double your money in 10 years.