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by randbox
1547 days ago
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The fraction of average income paid to landlords is partially due to the concentration of land ownership and political culture of the ownership class. Historically in 18th century rents were 1/3 of farm product in England, 1/2 of product in Milan, up to 3/4 product in China. Citizens in countries with low rents developed wealth quicker and in countries with high rents were quite poor. |
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