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A landlord from Poland divided his apartment into 25 rooms of 6 square meters and rented them out for $320/month per room.
(hexbear.net)
this post was submitted on 20 Sep 2023
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urbanism
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Is this the dream of every Westerner to own property that they can rent out? I hear a lot of this from Americans and Canadians about how they want to get into real estate.
It's not just a westerner thing, look at China before Mao's reforms. Look at parts of South Africa now. Feudal economic conditions lead to this kind of rent seeking behaviour being taken to the extreme. It's why Adam Smith hated landlords so much, the whole point of capitalism, to those that actually belive in it, is that's it's a progression from feudalism. So this kind of extreme rent seeking behaviour should not be a part of capitalism, according to what I refer to as utopian and idealistic capitalists. However, in actually existing capitalism, neo feudal economic conditions are recreated over time as the rate of profit falls. Which leads to this kind of behaviour and landlord worship.
See you’re expecting western capitalists to actually read and comprehend Adam Smith instead of simply invoking his name like a saint.