Unfortunately, I think you’re right. As long as property can be owned indefinitely with inconsequential payments into the system (property tax), the race to own useful land will be the last chance for people to establish their own rent-seeking behaviour.
Eventually, the bottom of the pyramid gets crushed or gives up trying to hold the rest of it up. Guess we’ll find out soon enough :(
When you think about the percentage of corporate evaluations that are construed of intangible assets it gives me some hope that it’ll topple more like jenga than the bottom of a pyramid 😅
Unfortunately, I think you’re right. As long as property can be owned indefinitely with inconsequential payments into the system (property tax), the race to own useful land will be the last chance for people to establish their own rent-seeking behaviour.
Eventually, the bottom of the pyramid gets crushed or gives up trying to hold the rest of it up. Guess we’ll find out soon enough :(
When you think about the percentage of corporate evaluations that are construed of intangible assets it gives me some hope that it’ll topple more like jenga than the bottom of a pyramid 😅