Re:China Creates Its Own Digital Currency, a First for Major...
by Barrin92 on Wednesday April 07, 2021 @05:23PM
(#26731541)
Same is true for Singapore, you buy effectively a 99 year lease that gradually returns to the government.
It's actually a pretty brilliant policy that strikes a good middle-ground between giving individuals stake in the country without losing sight of the public interest to maintain control of land ownership.
This sort of combination between state control and individual ownership is vastly preferable to the patrimonial wealth acquisition in the US, which gives private interest groups extraordinary power at expense of both individuals and society at large, and it's an effective mechanism against generational inequality and it avoids creating a society dominated by heritage.
It's actually a pretty brilliant policy that strikes a good middle-ground between giving individuals stake in the country without losing sight of the public interest to maintain control of land ownership.
This sort of combination between state control and individual ownership is vastly preferable to the patrimonial wealth acquisition in the US, which gives private interest groups extraordinary power at expense of both individuals and society at large, and it's an effective mechanism against generational inequality and it avoids creating a society dominated by heritage.