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But how well has this worked in comparable cities like London or Paris where only wealthy people can afford to live?
by tmalsburg2 7y ago
But how well has this worked in comparable cities like London or Paris where only wealthy people can afford to live?
- vtail 7y agoAnd only really wealthy people can afford to stay in a 5-star luxury hotel. The underlying mechanisms are the same: when demand for a resource is greater than supply, you can either artificially limited the demand by some controlling body, or let the market bring them into equilibrium through pricing signals.
- tmalsburg2 7y agoBy electing a socialist government the people of Berlin have indicated that they don't want their city to become a five star hotel. Simply letting the market take control is therefore not an option.
- mixmastamyk 7y agoI understand it worked in Vancouver where it was tried. I've not heard news that London or Paris has tried.