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This is a bonkers line of argumentation. Speculation is not a productive activity. It is also potentially very destructive. A different argument would be to sa
by conanbatt 8y ago
This is a bonkers line of argumentation. Speculation is not a productive activity. It is also potentially very destructive.
A different argument would be to say that the seller of the property is putting the money to better use, but nevertheless speculation of land, particularly in big cities, is purely a legal issue and regulatory capture. Change taxes to LVT and watch them dissapear.
- okr 8y agoI am surprised to read on YC news, that speculation is not a productive activity. Is not the whole venturing idea an organized risk minimizing speculation adventure? I do not think anyone willingly spends part of their wealth into something, that they don't think, it's worth investing in. And i also think it is worth noting, that if there was then a future gain, that it had produced something, that others were willing to spend money on. So it must have been useful?
- conanbatt 8y agoInvestment is not speculation. Its of course a game of definitions, but generally speaking both economists and financial literature separate them on their usefulness and advice. > And i also think it is worth noting, that if there was then a future gain, that it had produced something, that others were willing to spend money on. So it must have been useful? Starting by the conclusion here. People also willingly spend money on the lottery, or betting, and although it has some entertaining value, it would be to the detriment of society as a whole if investment were diverted into the speculation of games of chance.