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The 1:1 ratio of $ to societal value is something I will always fundamentally disagree with, not least because we don’t live in an economic model: life is messy
by thebradbain 8y ago
The 1:1 ratio of $ to societal value is something I will always fundamentally disagree with, not least because we don’t live in an economic model: life is messy, chaotic, complicated, and there’s a sizable group of the educated population that would argue it can’t be precisely and accurately quantified.
Economics is a tool we can use to improve our society in equitable ways, not some omniscient diety we have to worship blindly.
And that’s still my belief after studying economics, too.
- lotsofpulp 8y agoThen society (government) should try to fix the problem structurally, by shifting the demand curve and supply curves. Increasing supply of housing, of kids who can perform high wage jobs, etc. The prices coming down will be a marker of successful efforts to make society more equitable. And if everyone wants to live on the California coastal region though, since you can only shift the supply curve of ideal real estate so much without affecting its ideal-ness and then it becomes a problem of how to triage, which thus far has been letting people who can afford it, pay for it. Only other option I see is some type of random lottery.