I heard of "you'll own nothing, and be happy" but I didn't realize it was actually packaged in such a video from WEF. And the first on the list, no less!
The Fuggerei was established by notorious capitalist Jakob Fugger, and still operates today. Annual rent for an apartment is less than 2 euros per year. Naturally this housing is off the market; Fugger established a trust fund to support the Fuggerei for over 500 years.
That is the secret to solving the housing problem: take some housing out of the market, to house people who wouldn't otherwise be housed.
Economics is not a mathematical science, but rather a subset of political science. The lack of scientific rigor in economics was displayed when economists reacted with shock at Piketty's empirical research on capitalism.
I've written about the Fugger banking family on System Failure before. When the Medici family began to decline, the Fuggers arose to occupy their political position. Even though the Fuggers were all devout Catholics, they actually supported Protestant factions in the Reformation because they wanted to charge interest on their loans (something the Catholic Church considered a sin).
I heard of "you'll own nothing, and be happy" but I didn't realize it was actually packaged in such a video from WEF. And the first on the list, no less!
The Fuggerei was established by notorious capitalist Jakob Fugger, and still operates today. Annual rent for an apartment is less than 2 euros per year. Naturally this housing is off the market; Fugger established a trust fund to support the Fuggerei for over 500 years.
That is the secret to solving the housing problem: take some housing out of the market, to house people who wouldn't otherwise be housed.
Economics is not a mathematical science, but rather a subset of political science. The lack of scientific rigor in economics was displayed when economists reacted with shock at Piketty's empirical research on capitalism.
Amazing, I'd never heard of this Fuggerei!
I've written about the Fugger banking family on System Failure before. When the Medici family began to decline, the Fuggers arose to occupy their political position. Even though the Fuggers were all devout Catholics, they actually supported Protestant factions in the Reformation because they wanted to charge interest on their loans (something the Catholic Church considered a sin).
Thanks for another great comment, Chris!