3 ms·
George's moral framework would align with taxing the ownership of gold - "land" is not just literal land but all unimproved natural resources. On the other hand
by closeparen 5y ago
George's moral framework would align with taxing the ownership of gold - "land" is not just literal land but all unimproved natural resources. On the other hand we don't seem to have pressing problems with gold that is needed for productive purposes instead being hoarded as a store of value. Its main function is to be expensive, so we don't mind as much that it is.
- CryptoPunk 5y agoGold is not actually inherently scarce. Refined gold is scarce because it is costly to find, mine and refine it. So I do think those who do go through the process to acquire gold are morally deserving of ownership over it. Moveover, this ownership is economically advantageous because it incentivizes the costly process of mining gold that increases its supply.