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by HarryHirsch
1041 days ago
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Wealth translates directly into political influence - just look at Alabama! Also - consider that a good amount of wealth is locked up in real estate. Whoever falls in that bucket has political influence and no interest at all that more housing will be built, because that will diminish their wealth. It's not envy, it's rational self-interest. |
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Is this bad on net? From what I've heard, the main political difference between the rich and the rest of the population is that they tend to be more pro-business. That sounds like a good counterweight to the popular antipathy toward business.
> Also - consider that a good amount of wealth is locked up in real estate. Whoever falls in that bucket has political influence and no interest at all that more housing will be built, because that will diminish their wealth.
NIMBYism is overwhelmingly driven by non-rich people, and most people who are rich have most of their wealth in stocks, which gives them an incentive to favor the construction of housing as a complementary good. Again, I'm not seeing the harm here.