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How does this intended model deal with billionaires buying up _everything_ so it can be theirs and ruining people's homes and livelihoods, etc? I could easily
by t-writescode 4y ago
How does this intended model deal with billionaires buying up _everything_ so it can be theirs and ruining people's homes and livelihoods, etc?
I could easily imagine companies going out and buying all the houses, or nearly all of them, and then renting access out to them, or replacing them with apartments so they can fit more bodies in them. It absolutely feels like an even worse potential monopoly.
- deleted 4y ago[deleted]
- namlem 4y agoThere is another chapter in the book about monopoly power and how to prevent it. It's been a while since I've read it though so I don't remember the exact proposal. However Glen Weyl would probably say that the book is out of date and point to a model such as quadratic funding, where taxes are allocated by private individuals to fund public goods.
- MichaelZuo 4y agoBecause even if someone really wanted to, they would have to pay property taxes based on their overinflated bid.