4 ms·

I think you are right about the symptoms but misdiagnosed the disease. Unfortunately I think our minds cannot comprehend how much wealth has been created in th

I think you are right about the symptoms but misdiagnosed the disease. Unfortunately I think our minds cannot comprehend how much wealth has been created in the world in the last 30-40 years, and how many rich people that's created out of the 8bn world population. Something like 1.4m americans have a net worth above $10m. 1.4m!!! And that's just the US. Can you imagine how many millionaires the world has created? Now imagine how much real estate actually exists in the city centers of large cities in the world. Not that much. Especially in popular cities. Nowhere near enough for this wealth to go into. This isn't about oligarchs, or rich dictators. There's nothing illegal going on here (there is a little, but its negligible). It's the world population and the wealth we've created. It's insane. A lot of people have gotten very rich.

mrtksn 4y ago
Sure, a lot of people got very rich and that's OK since we can also develop so much infrastructure to support it. What I say is, the problem here comes from restricting the markets in a way that blocks natural trade and things cannot stabilize. See, flipping burgers for a week in USA gives you an iPhone that is made by countless people all over the worlds but doing the exact same job in Turkey for example gives you a MagSafe charger only and you need to keep flipping burgers for 30 more weeks to get the iPhone. This creates an labour arbitrage that could have been fixed with people moving around like the way it happens between cities in the same country but instead we have capital movement only which results in wealthy squeezing out the resources of areas of restricted movement, thus perpetuating the arbitrage. It's almost like a scheme to keep the property owners and the workers in separate classes without an ability to move between classes.

mrtksn 4y ago

Sure, a lot of people got very rich and that's OK since we can also develop so much infrastructure to support it. What I say is, the problem here comes from restricting the markets in a way that blocks natural trade and things cannot stabilize. See, flipping burgers for a week in USA gives you an iPhone that is made by countless people all over the worlds but doing the exact same job in Turkey for example gives you a MagSafe charger only and you need to keep flipping burgers for 30 more weeks to get the iPhone. This creates an labour arbitrage that could have been fixed with people moving around like the way it happens between cities in the same country but instead we have capital movement only which results in wealthy squeezing out the resources of areas of restricted movement, thus perpetuating the arbitrage. It's almost like a scheme to keep the property owners and the workers in separate classes without an ability to move between classes.