> The "solution" of course, would be to figure out how to raise the rate > of profit, by ending the political/economic/technical problems that > are depressing it.
One step in that direction can be taxing all the rents (including capital gains on real estate and financial assets) heavily to discourage nonproductive investements, that is, speculation and/or ponzi. If the buildings depreciate, how is it that the house prices appreciate? It is the land underneath whose price appreciates, not price of the building . Tax that appreciation, adjusted for inflation, heavily, for example, and the like. That would discourage the "rent-seeking" a recent Financial Times article was complaining about. Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
