The Rent Is Too Damn High

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On Greg Mankiw and the enormous cost of letting finance rule.

by Enrique Diaz-Alvarez | Jacobin | Click HERE to read article  

For every dollar that our capital stock increases, FIRE collects somewhere between two and four dollars! Old Soviet bureaucrats with their chauffeured Ladas and modest three-bedroom apartments never dreamed of achieving this level of parasitism.