Re:NYC Open Letter to Jeff Bezos
by dragonwriter on Friday March 01, 2019 @04:18PM
(#19285345)
> San Fransisco has a housing crisis BECAUSE of all the $150k jobs
More accurately because it has lots of $150k+ jobs (and growing numbers of them) and lots of jobs at or barely above local minimum wage.
Absent compulsion, there's no reason for any marginal increase in housing stock available on the market to serve the latter market when it can be directed to the former, even if that involves a delay (e.g., for remodeling.)
> The presence of wealth doesn't CAUSE poverty.
Yes, it does; the presence of concentrated wealth drives up costs, increasing CoL, producing poverty. Outside of the situation where the production possibilities curve doesn't actually suffice to provide reliable survival-sufficient food, clothing, and shelter for the population such that with equitable distribution people would not be dying of starvation or exposure except by choice not to avail themselves of what what accessible, essentially all poverty is a result of the presence of concentrated wealth, because resources are directed to serve the interests of those with wealth, which is, after all, fundamentally just he power to command the direction of resources.
More accurately because it has lots of $150k+ jobs (and growing numbers of them) and lots of jobs at or barely above local minimum wage.
Absent compulsion, there's no reason for any marginal increase in housing stock available on the market to serve the latter market when it can be directed to the former, even if that involves a delay (e.g., for remodeling.)
> The presence of wealth doesn't CAUSE poverty.
Yes, it does; the presence of concentrated wealth drives up costs, increasing CoL, producing poverty. Outside of the situation where the production possibilities curve doesn't actually suffice to provide reliable survival-sufficient food, clothing, and shelter for the population such that with equitable distribution people would not be dying of starvation or exposure except by choice not to avail themselves of what what accessible, essentially all poverty is a result of the presence of concentrated wealth, because resources are directed to serve the interests of those with wealth, which is, after all, fundamentally just he power to command the direction of resources.