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Economy hasn't changed much for what matters. Real estate/land is still the dominant market. Economics changed however. Land is no longer a factor of productio
by snidane 5y ago
Economy hasn't changed much for what matters. Real estate/land is still the dominant market.
Economics changed however. Land is no longer a factor of production like it used to in classical economics. Real estate market, despite its size and 99% people involved with 50% of their salary in it, is just an afterthough for a modern economist.
- foota 5y agoI don't think I'd say it's an afterthought for economists, I would argue that it's not talked about because it's pretty simple, but politics is out of touch with economics.
- Ericson2314 5y agoOrthodox neoclassic economics does tend to overly focus on supply constraints, and if you like suburbs for misguided reasons well....we're no where close to actually running out of land!
- cma 5y agoMaybe it isn't completely dominant yet, but attention has had a strong run: https://www.wired.com/1997/12/es-attention/ https://www.wired.com/1997/12/es-attention/