I'll echo the disagreement of some other posters: despite your good intentions, your post misses the point of the article entirely and focuses on one specific thing that's only tangentially relevant.
The point being made that the rentier class, usually applauded for their success, in many cases does not take the risks so widely ascribed to it, and creates wealth for select few beneficiaries simply by having more wealth.
Surely you will agree that in a given locale, the amount of land is a fixed amount. A single entity is able to extract more value from land simply by denying others use of it, which is of dubious value to the society at large. I won't go so far as to declare property = theft, but you can't help but wonder about the negative externalities of a few parties owning the vast majority of land and developments in a given area.
Without ill intentions, people are forced to pay rent, allowing the rentier class to accumulate more and more wealth by simply doing nothing. This is in contrast to innovative companies that provide real value to customers and create wealth for all involved (e.g. a farmer buying a piece of machinery to produce more food)
The article is mainly about a subset of capitalism where money is produced for the owner class without the tangible value exchange for the people from whom that money is extracted, and about how surprisingly well it scales.
The point being made that the rentier class, usually applauded for their success, in many cases does not take the risks so widely ascribed to it, and creates wealth for select few beneficiaries simply by having more wealth.
Surely you will agree that in a given locale, the amount of land is a fixed amount. A single entity is able to extract more value from land simply by denying others use of it, which is of dubious value to the society at large. I won't go so far as to declare property = theft, but you can't help but wonder about the negative externalities of a few parties owning the vast majority of land and developments in a given area.
Without ill intentions, people are forced to pay rent, allowing the rentier class to accumulate more and more wealth by simply doing nothing. This is in contrast to innovative companies that provide real value to customers and create wealth for all involved (e.g. a farmer buying a piece of machinery to produce more food)
The article is mainly about a subset of capitalism where money is produced for the owner class without the tangible value exchange for the people from whom that money is extracted, and about how surprisingly well it scales.