Adam Smith did not mean what he is often made to say (1998)

Re:Adam Smith did not mean what he is often made to say (1998) by n4r9 on Sunday March 13, 2022 @10:29AM (#30661494)

If you buy a vacant property and hold onto it until population growth and lack of development brings prices up, who is working?

[ Parent | on HN ]

Re:Adam Smith did not mean what he is often made to say (1998) by Jensson on Sunday March 13, 2022 @10:51AM (#30661708)

New entrants, the people who have to pay a million dollars for a small house has to work for that million.

[ Parent | on HN ]

Re:Adam Smith did not mean what he is often made to say (1998) by n4r9 on Monday March 14, 2022 @05:17AM (#30670127)

I don't think that makes sense. It applies to almost any transaction. Those people will be working and earning regardless, it's just that a higher proportion of their income will be devoted to accommodation.

[ Parent | on HN ]

Re:Adam Smith did not mean what he is often made to say (1998) by antihero on Sunday March 20, 2022 @07:13AM (#30741699)

Whoever buys it or rents it

[ Parent | on HN ]